Rush for Zambia

Five companies have submitted bids for the long-term supply of 1.4 million tonnes of crude oil to the landlocked country of Zambia, which shuttered its sole oil refinery earlier this month due to shortages of crude oil feedstock.

The firms that have signalled interest in the two-year contract are UK company Commoditex International, Russia's Lukoil International Trading and Supply Company, Trafigura of Italy, Addax Petroleum, Oryx Group of France and Independent Petroleum Group of Kuwait.

Zambia, which uses huge amounts of diesel to run its copper and cobalt mines situated in the mineral-rich Copperbelt region, faced severe fuel shortages in October after French oil major Total halted crude oil imports over a pricing dispute. Total, which owns half of the Indeni Oil Refinery, with the balance held by government, had been purchasing oil for Zambia since 2002.

The selection process should be concluded in the first week of December.