Namibia: Namcor Targets 100 Percent Use of N$5,8b Oil Storage Facility

THE managing director of the National Petroleum Corporation of Namibia (Namcor), Imms Mulunga, says the company cannot divulge sensitive commercial information on how exactly it made turnover of N$3,3 billion from its national oil storage facility.

He also said they believe the facility will reach 100% usage in the foreseeable future. The facility is currently still operating at 60%.

Mulunga says although Namcor is a state-owned company, it is a commercial entity that competes with other privately…