Arab Today, arab today kuwait’s ipg among firms bidding
Last Updated : GMT 23:12:04
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Kuwait’s IPG among firms bidding

Arab Today, arab today

Arab Today, arab today Kuwait’s IPG among firms bidding

Kuwait - Arabstoday

Kuwait’s Independent Petroleum Group Company (IPG) is among ten international firms, including Glencore, which have tendered to supply oil to Zambia for a period of two years starting this year, it was announced at the weekend. Zambia in February invited tenders for the supply of 1.4m tonnes of oil after the expiry of a contract with Glencore under a two-year arrangement from March 2010. Hazel Zulu, the Zambia Public Procurement Agency spokeswoman said Mercury Energy Trading, Agipol Africa Limited, Gunvor and Crown Hill Investments Limited had also put in bids. Others also included KenolKobil, Trafigura, Vitol and Addax Energy, she told Reuters. \"The evaluation process should be concluded within 21 days,\" Zulu added.Zambia, Africa\'s top copper producer, imports all its petroleum requirements, mainly from the Middle East, through the port of Dar-es-Salaam in Tanzania. In January, IPG reported a net loss for 2011 of KWD6.06m (US$ 21.8m), compared to a net profit of KWD4.48m for the same period in 2010.

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