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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a sizeable reduction in the local petrol price is expected, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 23 2012 22:00
Economic liberation or the lack thereof is the most divisive issue in the country, according to a survey.
Windhoek - Namibia's state-owned petroleum group Namcor has been offered to take up a 10% to 15% equity stake in a new 400 000 barrels-per-day refinery to be built by its counterpart in neighbouring South Africa, an official said.
Managing Director Sam Beukes said Namcor has not yet made a decision on whether it would take South Africa's national oil company PetroSA up on that offer, but said that strategically it made sense for Namibia, which imports all of its fuel demand.
"By taking that equity stake we can achieve security of supply without having to built a refinery in the country," Beukes told Reuters in an interview.
He also said that the long-delayed Kudu gas-to-power project was likely to start producing in 2014.
He added that the government restructured the ownership of the project, with Namcor and Gazprom to jointly own a majority stake in the joint venture developing it.
- Reuters