National Petroleum Corporation of Namibia defends the current fuel procurement arrangement [SOUND]

# The National Petroleum Corporation of Namibia, NAMCOR, has defended the current fuel procurement arrangement, saying the model supports both national energy security and the company’s financial recovery efforts. International oil trader Vitol has been awarded the tender to supply fuel to Namibia for the next three months, as the company requires no government guarantees. Concerns have been raised that the state oil company was sidelined in the process. NAMCOR’s Paulo Coelho says the arrangement is a sound commercial decision: