Several oil companies in Mozambique have been unable to import fuel in recent months due to financial difficulties, according to Moisés Paulino, the National Director of Hydrocarbons and Fuels.
As reported by Carta de Moçambique, these companies have accumulated significant debts, causing disruptions in the fuel import process managed by the Mozambican Importer of Petroleum Products (IMOPETRO).
Paulino highlighted that some companies’ inability to pay has created challenges, including debts to international suppliers, the government, the state-owned ports and rail company (CFM), and the organizations managing the country’s ocean terminals where fuel is offloaded.
This financial instability has led to liquid fuel being held in storage, further complicating the situation.
While Paulino acknowledged that the government’s own debts to oil companies have contributed to the problem, he assured that efforts are being made to address it.
Through the Stabilisation Fund, the government has already settled half of its $300 million debt, contradicting earlier claims by the Confederation of Mozambican Economic Associations (CTA) that the total debt was $450 million. The current outstanding debt stands at $150 million.
Adding to the challenges, the Bank of Mozambique’s decision to stop financing the fuel import bill has left oil companies reliant on commercial banks, exacerbating their financial strain.
Paulino noted that international suppliers now view the Mozambican market as risky, which has led to a sharp decline in the number of companies participating in fuel import tenders.
Once highly competitive, these tenders have seen a drop in international interest due to the perceived financial instability.
In response, the government is reviewing the contract documents governing the fuel import and distribution process, aiming to restore confidence and improve transparency.
João Macanja, General Director of IMOPETRO, confirmed that revisions to the tender specifications are underway, contributing to delays in the opening of bids for a new international tender launched on August 4.
Despite these setbacks, the National Directorate of Hydrocarbons and Fuels, IMOPETRO, and the Mozambican Association of Fuel Companies (AMEPETROL) have assured that the country’s fuel supply remains stable and that there is no risk of shortages.
