Storage: Rs 750 Million For 30 Days Of Fuel

The parastatal, which is getting a financial health over the past two years, expects to hire a consultant to soon conduct a feasibility study. The project, which is to build three storage tanks in the port area, would require investments of up to Rs 750 M. The work is planned next year.

At the STC, the organization responsible for the importation of petroleum products It is estimated that this project is of importance taking into account the consumption growth rate of 5%.

"Mauritius has only one stock eight days of arrival of each boat is every 22 days. Hence the need for a sufficient reserve to deal with any eventuality, "said a source close to Le Matinal.

Increase in consumption of petroleum products

Two new fuel tanks, each with a storage capacity of 7500 tons and a diesel tank with a capacity of 10,000 tons will be built in the next two years. The objective is to increase the storage capacity to avoid a potential shortage of fuel by 2014 against a growing consumption. Demand for 2012 is estimated at 1.36 million metric tons, an increase of 12.5% compared to 2011.

"A delay of any carrier, especially with the problem of piracy in the region, may affect negative impact on our supply of petroleum products and by extension the country's economic activities, "says one in the right circles.

So far, the State Trading Corporation (STC) uses a cool tanks belonging to the two oil companies private, ie Vivo Energy and Total. They have expressed their interest to join the STC for the construction of new storage facilities. But at this stage, very little information is available regarding the funding of this important project.

Government House evokes at the same time the possibility of making Mauritius a "petroleum hub" in the region. "The demand is there, but lack of infrastructure we are able to exploit the market," says one government level.

Moreover, the increase in the price of 5 to 10% of fuel announced last month is still "holding mode". STC had even prepared public opinion emitting a statement explaining its website.

"With the current upward trend in the global market, the Petroleum Pricing Committee (PPC) is expected to meet soon to take the right decision while taking into account the level of funds available in the Price Stabilization Account, "stated the document. Wednesday, the price of a barrel of Brent crude oil was $ 109.99.