21 Apr 2020

Minister of Mineral Resources, Green Technology & Energy Security, Mr Lefoko Moagi has explained that the decrease on petroleum products prices was influenced by the general decline of international oil prices, which have been going down mainly as a result of reduced global demand driven predominantly by the slowdown of the world economy.

The price adjustment, which commenced on April 21 decreased retail prices for petrol grades by 13 thebe per litre, diesel by 10 thebe per litre and prices for illuminating paraffin decreased by 20 thebe per litre. 

Speaking during a press briefing, Mr Moagi said the government would closely monitor the prices of petroleum products in both regional and international markets and make the necessary price adjustments every three months. 

Regarding the national fuel storage capacity, the minister said Botswana had storage enough for 15 days. 
 
He further stated that Botswana had negotiated with other countries such as Mozambique for petroleum supply if procuring from other countries fail.
 
Mr Moagi pointed out that to further ensure fuel supply, government had developed additional strategic fuel storage facilities through Botswana Oil Limited. 

On the electricity situation, Mr Moagi said the government was working to ensure adequate electricity supply during the lock-down period. 

He said the solar energy was promoted vigorously so that it becomes a significant contributor to the energy sector. 

He said the government had developed solar guidelines to enable Batswana to generate electricity for their own use and sell the excess to the Botswana Power Corporation (BPC) up to a limit that would be defined by the regulator. 

The minister said that would help to diversify power generation away from dependence on the thermal generation and further economically empower Batswana 

On the mining sector, Mr Moagi explained that government was committed to undertaking organisational reforms to align its mandate to promote economic inclusion and green technology.

He said the government had called for an increased participation of the private sector to ensure that mining operation provided for the manufacturing, cutting, polishing, designing and exporting and it was high time that the use of new technology was explored for job creation. Ends