“There is availability of stocks in the country’s strategic fuel reserves and we are importing more despite challenges that have undermined our importation capacity like forex shortages among other reasons.
By close of business today, the situation will greatly improve.
There is therefore no need to panic”
Joint MERA and NOCMA Press Briefing.
The Arab Bank for Economic Development in Africa (BADEA) board has approved a $50million Fuel financing revolving facility for NOCMA.
NOCMA will use the first tranche of $50m towards immediate procurement of fuel product towards replenishment of the strategic fuel reserves stocks once all the relevant paperwork is finalized.
This fuel financing facility agreement is between NOCMA and BADEA with Government as a guarantor through the Ministry of Finance. This means NOCMA will be fully responsible in directly servicing the facility.
This will allow NOCMA to channel some of the financing sourced from local banks towards addressing the current fuel shortages in the Country.
Approximately $28million will go directly towards daily fuel requirements, as the company works to address the fuel supply shortages recently experienced in the Country.
Operations towards restoring the fuel supply situation in the country are already underway.
High volumes of fuel product are entering the country on a daily basis, which has seen reduced queues at filling stations across the country.
National Oil Company of Malawi NOCMA has today joined over 850 soldiers from across the country who are competing in 24 sports disciplines at this year’s Malawi Defense Force MDF Sports Festival at Malawi Armed Defense Forces College MAFCO in Salima.
Speaking when he officially opened the Festival this morning, MDF Commander General thanked all the corporate companies including NOCMA for making this year’s festival possible through sponsorship.
NOCMA has supported the event with K5 million.
Apart from sponsoring the event, NOCMA has sent two teams that will play exhibition matches in football and netball on Wednesday 25th May 2022.
The Festival ends on Friday.
…as Lilongwe Depot scoops ‘safest depot’ award
Lilongwe Depot was Friday, August 7th awarded for emerging the safest of NOCMA’s depots in the company’s inaugural annual safety awards. NOCMA has three depots – Lilongwe in the central region, Blantyre in the south and Mzuzu in the north.
According to NOCMA’s Health, Security, Safety and Environmental Manager, Sarai Chimombo, Lilongwe depot earned the award after it outplayed the others on the account of number of safety ‘warnings’, also known as ‘nearmisses’ reported in the 2019/2020 financial year.
Presided over by the Director of Operations, Micklas Reuben, the ceremony, held within Lilongwe depot premises, also saw several other staff from the central region strategic fuel reserves and from NOCMA’s Head Office decorated for their various contributions towards ensuring safety.
Speaking to staff after presenting the awards, Mr Reuben stressed that safety occupies and critical place in the oil industry.
“You can manage anything else perfectly but getting it wrong on safety wipes out any gains made.
“I, therefore, call upon everyone to take responsibility and report any issues that may lead to safety incidents,” said the DOO, pointing out that incidents occur because of apparently smaller issues that are left unattended to.
Depot Manager, Moffat Soko, commended his team for all that has earned them the company’s inaugural annual safety award. He also pledged his support to his team to ensure a safe working environment.
Sarai Chimombo, the safety manager, spoke of the need for all staff to work as a team so that safety is not compromised.
Minister of Energy Newton Kambala says he is impressed with what Government owned company NOCMA is doing in the country.
Among other things, the Minister commended NOCMA for ensuring continous fuel supply in the country in the past few years which he said helped the national economy.
The Minister made the remarks at the end of his tour of Blantyre Strategic Fuel Reserves on Friday, July 17.
Speaking to NOCMA management and staff after the tour, the Minister also pledged his support towards the company’s operations.
“As Minister of Energy, I will give you the necessary support to make your work easier because NOCMA is very strategic in the management of the country’s economy,” .said the Minister
Meanwhile, the Minister called for a robust communication process between NOCMA and the Ministry to ensure that he is always kept updated on developments in the company.