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July Vol 3, National News

Zimbabwe State Oil Company Back in Charge & Fuel Shortages Return

By VOA   Tue, Jul 14, 2009

Fuel shortages have become widespread again in Zimbabwe in the wake of the revocation of import licenses to new operators, leaving the National Oil Company of Zimbabwe with a monopoly again in the sector, sources said Tuesday.

Fuel shortages have become widespread again in Zimbabwe in the wake of the revocation of import licenses to new operators, leaving the National Oil Company of Zimbabwe with a monopoly again in the sector, sources said Tuesday.

VOA was unable to reach Energy Minister Elias Mudzuri of the Movement for Democratic Change formation of Prime Minister Morgan Tsvangirai for comment.

But sources familiar with the energy sector said a decision was taken three months ago by the government and industry players give NOCZIM control of fuel imports.

But this has led to a shortage as NOCZIM does not have enough of the hard currency demanded by regional suppliers, business sources said. Meanwhile the price of petrol has soared from 55 U.S. cents to US$1.55 on the back of the worsening shortages.

By VOA

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