Energy expert cautions government over impending BP Africa share transfer

Commenting on the proposed sale of 75 per cent shares by BP Africa, a South African-based Zambian petrochemical consultant said the trend of international investors living their assets on the laps of another international company when they get tired must not be treated as business as usual.

The consultant stated that the country should not experience what happened when AGIP and Mobil pulled out and outlets were sold to Total thereby making Total a dominant company. He added that the departure of long time investors present a unique opportunity for indigenous entrepreneurs to take over.

The consultant added that BP Zambia owns and controls some of the wealthiest sites in Zambia. “Without undermining the burden of other international oil companies seeking for more glory by buying the assets of BP, the government must ensure that this company is unbundled site by site including the lucrative sites that are in the mines.”

At Lumwana mine alone, the sales output is more than one million litres per month while some filling stations sell a paltry 150,000 litres per month.

“Using a carefully formulated approach, deliberate affirmative action should be towards indigenous companies and individuals. While foreign companies are still welcome to participate in such change life transactions, it will be a blessing if the lion’s share went onto the laps of Zambians and in times like this, regulations such as licenses that will stand in the way of empowerment must be waived,” the consultant said.

BP Africa has announced its intention to pull out of Zambia, Namibia, Malawi, Tanzania and Botswana.