Zimbabwe To Maximise on Oil Discovery

President Mnangagwa responds to questions from Brick by Brick Magazine at State House in Harare recently. — Picture: Presidential Photographer Tawanda Mudimu.

Wallace Ruzvidzo-Herald Reporter

Zimbabweans will be the primary beneficiaries of the recent oil and gas discoveries in Muzarabani and to this end, the Second Republic is in the process of establishing mechanisms to ensure the country derives maximum value from its mineral wealth, President Mnangagwa has said. This follows the recent confirmation of gas, light oil, condensate and helium deposits by Geo Associates last month. The discovered oil falls under the light oil classification and will see Zimbabwe producing diesel, petrol and jet A1, thus cutting the country’s petroleum import bill. In an interview with “Brick by Brick” magazine, President Mnangagwa said now that the oil and gas deposits had been confirmed, the country was moving towards putting in place measures to guarantee value addition and beneficiation. “We must find a method or a mechanism of making sure we benefit from the oil reserves. We don’t have the technology nor the skills, nor the global capital to exploit and process the oil. We must find a way of doing it to the maximum benefit of Zimbabwe. ReadMore