INDUSTRIALS & ENERGY

Fuel price goes up

THE price of petrol and Diesel-50 has gone up by two cents to $1,41 per litre on the back of a rise in "free on board" (FOB) prices, a move that is expected to trigger another round of price increases...

By Staff reporter | Published: 18 January 2018

INDUSTRIALS & ENERGY

Fuel prices set to rocket

Petrol prices are set to rocket in the next few weeks, experts predicted, driven by oil prices that touched the highest level in three-and-a-half years at $63,81 a barrel this week, which is 143 perce...

By Staff reporter | Published: 17 January 2018

INDUSTRIALS & ENERGY

Govt to build service stations in Harare, Masvingo

The State Procurement Board (SPB) has invited qualified contractors to submit sealed bids for construction of service stations in Masvingo and Harare.The tender invites are contained in a Government G...

By Staff reporter | Published: 14 January 2018

BUSINESS NEWS

Govt to revive fuel plant

THE Ministry of Higher and Tertiary Education intends to resuscitate a key fuel plant at Feruka as well as develop a solar energy project as part of its 100-day work plan, among other key policy progr...

By Staff reporter | Published: 12 January 2018

BUSINESS NEWS

Individual fuel imports banned

GOVERNMENT has banned the importation of fuel by individuals.In a notice issued by the Zimbabwe Energy Regulatory Authority (Zera) yesterday, Government said it has repealed Statutory Instrument (S.I....

By Staff reporter | Published: 08 December 2017

INDUSTRIALS & ENERGY

'CMED fuel scam culprits could scare off investors'

THE continued presence of staff who participated in the botched fuel deal that prejudiced the Central Equipment Mechanical Department (CMED) of $2,7 million could scare off investors willing to partne...

By Staff reporter | Published: 04 December 2017

BUSINESS NEWS

Fuel prices to go down

THE price of diesel will go down next year as  logistics associated with transporting the commodity will fall by half while the commodity will also be exempted from paying a road levy of 4c/litre...

By Staff reporter | Published: 03 December 2017

POLITICS

Chombo to review fuel levies

Finance and Economic Development  Minister, Dr Ignatious Chombo said on Wednesday government might, in the forthcoming 2018 national budget, review fuel taxes which make the commodity more expens...

By Staff reporter | Published: 19 October 2017

BUSINESS NEWS

RBZ doubles forex allocation for fuel importation

Government has doubled the weekly foreign currency allocation for fuel importation from $5 million to $10 million as part of measures to address shortages on the market. It has also facilitated the pr...

By Staff reporter | Published: 28 September 2017

INDUSTRIALS & ENERGY

'Zimbabwe has over 2 months' supply of fuel'

The Ministry of Energy and Power Development has assured the nation that it is holding more than two months' supply of diesel and over a month's supply of petrol.  Minister of Energy Dr Samuel Un...

By Staff reporter | Published: 27 September 2017

POLITICS

Chinamasa in fuel scandal

FINANCE minister Patrick Chinamasa, through the ministry's permanent secretary Willard Manungo, last year illegally granted permission to a private mining company to import 12 million litres of fuel d...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

Zimbabwe faces new fuel shortages

ZIMBABWE'S fuel supplies have dwindled to alarming levels due to a weakening economy and acute foreign currency shortages despite interventionist measures by the Reserve Bank of Zimbabwe (RBZ).This co...

By Staff reporter | Published: 22 September 2017

INDUSTRIALS & ENERGY

Green Fuel's $1bn expansion project on hold

ETHANOL producer, Green Fuel has put on hold its $1 billion expansion programme as the current environment does not support the scale of investment, sources have said.The company, jointly owned by The...

By Staff reporter | Published: 22 September 2017

BUSINESS NEWS

RBZ increases forex allocation to fuel companies

The Reserve Bank of Zimbabwe (RBZ) has increased foreign currency allocation to fuel companies from US$7 million to US$10 million weekly to ensure adequate availability of the commodity.The perceived ...

By Staff reporter | Published: 20 September 2017

POLITICS

Ministers in fuel scam

Two Cabinet ministers have been fingered in a suspected racket involved in the smuggling of fuel through the use of false declarations, facilitated by a clique of Zimra officials and the matter has si...

By Staff reporter | Published: 08 September 2017

ZIMBABWE

Speculation fuels equities rally

Speculation and a mad rush to preserve value has pushed up the value of equities as investors and fund managers scramble to hedge value amid heightened inflation fears and currency devaluation.Most co...

By Staff reporter | Published: 08 September 2017

BUSINESS NEWS

'Import ban fuels forex shortages'

A ban in the importation of at least 100 basic consumer goods imposed by government last year fuelled foreign currency shortages after recovery of local companies increased demand for forex, Reserve B...

By Staff reporter | Published: 07 September 2017

MINING & RETAIL

Chrome miner says fuel duty-free status above board

Africa Chrome Fields (Pvt) Ltd, a subsidiary of South African mining company Fanshawe Mining Holdings, which recently came under the spotlight after Government, through the Ministry of Transport and I...

By Staff reporter | Published: 06 September 2017

INDUSTRIALS & ENERGY

All fuel to use Feruka pipeline

Government wants nearly 100 percent bulk fuel imports into Zimbabwe to be transported using Feruka Oil Pipeline to lower cost of the key commodity and protect the country's major roads from the destru...

By Staff reporter | Published: 04 September 2017

BUSINESS NEWS

Afreximbank facility to avert fuel prices

A $600 million nostro stabilization facility from Afreximbank will largely support fuel and electricity imports as well as critical government obligations, sources said this week. The development will...

By Staff reporter | Published: 31 August 2017

BUSINESS NEWS

Beitbridge runs out of fuel

Motorists in the border town of Beitbridge on Thursday survived on illegal fuel vendors whose business was brisk.Enterprising fuel vendors camped near service stations to capture disappointed motoris...

By Staff reporter | Published: 28 August 2017

BUSINESS NEWS

Zera closes in on illegal fuel imports

THE Zimbabwe Energy Regulatory Authority has moved closer to ending smuggling of fuel into Zimbabwe following the close of window yesterday for submission of private tenders for marking of all importe...

By Staff reporter | Published: 23 August 2017

INDUSTRIALS & ENERGY

Govt to upgrade Feruka fuel pipeline

The government is set to invest $15 million in the upgrade of the Feruka pipeline to enable pumping of 16 million litres daily, which puts to rest the need for a second channel to transmit fuel into t...

By Staff reporter | Published: 10 August 2017

BUSINESS NEWS

Fuel fraud costs Zimbabwe $240m

ZIMBABWE could be losing at least $240 million annually to fuel fraud while globally at least $40 billion is lost to smuggling activities associated with subsidies, tax and price differentials worldwi...

By Staff reporter | Published: 10 August 2017

LANDS & AGRICULTURE

Cash shortages fuel cotton side marketing

THE prevailing cash shortages have given rise to massive side-marketing of cotton contracted by the Government with private buyers paying spot cash to entice farmers.While the Government is entitled t...

By Staff reporter | Published: 05 July 2017
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