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Oil marketers may in future be required to import all their petroleum products under the system supervised by the Ministry of Energy and Petroleum, according to new proposals by the government.
In a bid to mainstream the process of acquiring petroleum products and importing them to the country, the ministry has drafted regulations that will compel oil marketers to resell the fuel in the country through the Open Tender System (OTS).
The system is overseen by the Petroleum ministry and pools together monthly demand for all oil firms in the country, that are then consolidated and one firm competitively selected to import as one cargo.
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