Namcor invites bids for forecourts

Ogone Tlhage - The Namibia Petroleum Corporation is inviting applications from entrepreneurs interested in running its branded petrol stations.

Namcor recently announced that it would establish its own fuel stations over the next two years following the launch of its revamped brand identity.

Its spokesperson, Utaara Hoveka, explained the requirements.

“Business people and members of the public interested in opening Namcor branded service stations are urged to submit a business plan. The plan has to have details on the site, envisaged revenues, costs and the car count in the area or road.

The potential developer has to have sufficient capital to run the retail site,” he said.

At least four Namcor service stations would be introduced between now and December 2018, Hoveka indicated.

“Work has begun on about four service stations namely Hosea Kutako International Airport, Ongwediva, Otavi and Tsandi. These should become operational between now and December 2018,” Hoveka said. According to Hoveka, there was nothing untoward about national oil companies participating in local fuel retail markets, even if there was an already well-established market.

“It is common practice for national oil companies worldwide to participate in the entire oil and gas value chain, we thus do not see anything sinister with us entering the fuel retail space,” Hoveka said.

It remains to be seen how the move by Namcor will affect local distributors Vivo Shell, Engen, Puma Energy and Total Namibia.

In a previous presentation by Namcor, it indicated that it would have to import an estimated 500 million litres of fuel annually, which was one of the reasons why Namcor wanted 50% of its fuel import mandate restored.