The Southern African country earlier in September said it would not renew an exclusive fuel supply agreement with global commodities trader Vitol after extending it through October.
The new deal covers the supply of about 345 million litres of fuel in total, mainly diesel.
The winning bid offered an average discount of 63.85 cents per litre, saving approximately $13.57m, Minister of Industries, Mines and Energy Amutse said.
Namibia’s main fuel suppliers are national oil company Namcor, TotalEnergies, Vitol’s Vivo Energy, Trafigura’s Puma and newcomer Nasan Energies.
“The ministry will continue to use open competition to buy the country’s fuel on the best possible terms without ever putting security of supply at risk,” Amutse said in a recorded video message.
TotalEnergies is negotiating fiscal stability terms with Namibia’s government ahead of a final investment decision for its Venus offshore project as the country aims for its first oil production by 2030.
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