The Managing Director of National Oil Reserve Confirms Prices Drop of Oil

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Managing director of National Oil Reserve Mr. Ahmed Ibrahim Abdi has revealed that the prices of petroleum products have decreased affirming the government policy of importing high quality affordable oil.

He confirmed that oil imported into the country has to pass four quality tests and those which do not pass these tests are returned to their country of origin.

The Managing Director stated that Trafigura Company which imports oil in the country has fulfilled all the memorandum of understanding with Somaliland government.

The MD stated these sentiments when he was summoned by the senate permanent committee.

The chairman of senatorial Permanent Standing Committee Hon. Dayib Ahmed Hassan said he will forward the report to senate when it convenes.

He said “The national oil reserve serve the public, they receive oil in a first come first served basis and there no longer a monopoly in this sector”.

According to reports oil prices has being on a downward trend for the past eight months.

National Oil Reserve confirmed that no contraband oil is imported into the country.

Trafigura Company is an international reputable company from Switzerland, they work in Europe and many parts of Africa. They have brought more than 300 foreign workers some are engineers. The oil tanks are being rebuilt they are committed to fulfill their contract with Somaliland government.

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