Indeni Energy Expands Horizon with Ambitious Plans for Nationwide Petroleum Retail Presence
Indeni Energy Company Limited, formerly recognized as Indeni Petroleum Refinery, is embarking on a strategic transformation as it enters the retail petroleum market, unveiling plans to establish filling stations across the nation.
This move follows the company’s recent evolution from a refinery to an Oil Marketing Company (OMC) in response to governmental reforms within the petroleum subsector.
During a comprehensive tour of Indeni facilities by Mr. Cornwell Muleya, CEO of the Industrial Development Corporation (IDC), Mr. Evans Mauta, Managing Director of Indeni Energy, disclosed the company’s ambitious blueprint.
The plan involves an estimated investment of US$20 million to create a retail presence in all 10 provinces, signaling a major shift in the company’s operational focus.
Additionally, Indeni Energy has allocated an extra US$7 million for upgrading its infrastructure to facilitate full depot operations, ensuring alignment with Energy Regulation Board (ERB) standards.
Compliance with these standards is imperative for handling a diverse range of petroleum products in accordance with regulatory requirements.
Indeni Energy’s transition from a refinery to an OMC was prompted by the government’s withdrawal from fuel trading and the conversion of the TAZAMA crude oil pipeline into a finished product pipeline.
The company, rebranded as Indeni Energy Company Limited, officially launched on October 11th, 2022, and received OMC licensing from the ERB in the fourth quarter of the same year.
Mr. Mauta outlined the diverse range of services that will characterize Indeni Energy’s future endeavors, encompassing bulk importation, marketing, fuel distribution, depot management, biofuel blending, and laboratory services for other OMCs in the industry.
During discussions with Indeni Management, Mr. Muleya stressed the strategic importance of Indeni Energy in ensuring strategic fuel reserves.
He highlighted the crucial role these reserves play in stabilizing prices, especially during periods of fluctuating exchange rates.
Mr. Muleya urged Indeni Energy to strategize for potential expansions, not only within the current facilities but also in other locations to ensure a robust and reliable supply chain.
He commended Indeni Energy for its vision to become a center of excellence in laboratory services, acknowledging its potential role in training young professionals seeking specialization in the industry.
The transition from refining to retail marks a significant milestone for Indeni Energy, reflecting its adaptability to market changes and a firm commitment to meeting both national and regional fuel demands.
