TPDC to re-enter bulk oil business By CHRISTINE AFANDI Special Correspondent THE EAST AFRICAN The Tanzania Petroleum Development Corporation (TPDC) once again decided to take over the role of overseeing and regulating bulk procurement of fuel oil, an official at the state firm has said. According to TPDCs director of marketing and investment, Joyce Kisamo, the re-entry of TPDC into oil importation business is aimed at stabilising the sectors operations, enhancing security of oil supplies in the country and maintaining price stability, said Joyce Kisamo, director of marketing and investment . A survey by the Energy and Water Regulatory Authority has shown that procurement of oil in bulk through term tenders had helped stabilise consumer prices in countries like South Africa, Namibia and Mozambique. Ms Kisamo said bulk procurement will be carried out either jointly by oil importing companies or by a single player to achieve lower consumer prices for the commodity. The TPDC will maximise the use of its facilities to ensure that the whole country gets stable and timely supplies of fuel and its by products at the legitimate market price, she said. The TPDC has already prepared a business plan and a Cabinet paper on oil trading and strategic petroleum reserve procurement scheme. The cabinet is said to have reviewed the proposals after which TPDC was directed to submit an implementation report. It is, therefore, a forgone conclusion that the petroleum corporations working capital will be taken into account in the forthcoming financial year. A strategy seeking the re-entry of TPDC into the lucrative oil business is as a result of unprecedented three-year fuel price rise which has been threatening to grind the national economy to a halt. In addition, through the TPDC the concerned authorities will be able to collect accurate oil importation data for taxation and other purposes. The corporations role had previously been reduced to that of overseeing and developing infrastructure used to store and transport petroleum in the country.