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Vol 51 No 23

Published 19th November 2010


Namibia

Culpable contracts

Oil-trader Glencore International fears Namibia may wish to review its lengthy 2007 contract to provide half of refined petroleum imports until 2014. Namibia’s dollar is tied to the rand and the state-owned National Oil Corporation of Namibia used to buy these imports from South Africa. The Glencore contract exposes Namcor to potential foreign exchange losses.

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