RESPONSE TO THE BUSINESS WEEKLY ARTICLE OF THE 08th - 14th of APRIL 2022 ENTITLED “THE TIGHT GRIP OF MULTINATIONALS ON THE MULTI- BILLION PULA FUEL INDUSTRY”

Botswana Oil Limited ( BOL) has noted with concern, the article entitled “Battle for the Fuel Industry” and “The Tight Grip of Multi- nationals on the Multi- Billion Pula Fuel Industry” which appeared in the Business Weekly of the 08th - 14th of April 2022.

While the facts on BOL not being granted an import licence by BERA were true prior to the 11th of June 2021, there have been major developments over the years and the situation has changed and positions shifted significantly. BOL was granted an import licence by BERA in 2021 and since then, the two entities have been working together on the modalities of implementing the licence. BERA is supportive of this initiative and has been in the forefront in trying to find ways to enable BOL to implement and operationalize the import licence.

With sustained stakeholder engagements of all players in the petroleum industry, BOL has established good working relationships with the International Oil Companies ( IOCs) and Citizen Owned Oil Companies ( COOCs), transporters and other service providers in the oil industry.

BOL would like to reiterate the invaluable contribution and importance of all stakeholders in the industry in ensuring security of supply. Over the years, multinationals have been in control of the supply and distribution of petroleum products in the country with some measure of success.

However, market dynamics have now changed, and security of petroleum products supply to the country is now a matter of national priority than before.

The establishment of BOL by the Botswana Government was, in part, to ensure Government participation in the industry and the facilitation of citizen companies to participate meaningfully in the industry. BOL is strategically positioned to deliver this mandate on behalf of Government. This, BOL continues to do, with the support of the regulator and the other players in the industry.