Investments Holdings Plc (ZCCM-IH) should quickly establish how much oil is present in Gwembe so that the country can start benefiting from the discovery, Green Party president Peter Sinkamba has said.
Mr. Sinkamba said the country was anxious about the discovery and now that it has been proved that indeed Gwembe was sitting on a crude oil belt, the Government should empower ZCCM-IH to establish the sustainability of the discovery.
“Now that the Daily Nation has done its part by carrying out an investigation that established that there is presence of oil, the ball is now in the hands of Government to find out if the oil quantities underground were enough to be extracted for the benefit of the country,” Mr. Sinkamba said.
He said there was the need for the country to take advantage of the discovery of crude oil at Jongola river and Simwami mountains in Gwembe as it was the only solution to dealing with the current high price of fuel in Zambia.
Mr. Sinkamba noted that now that it has been confirmed that there is crude oil in the country, there was a likelihood that a lot of foreign oil speculators were going to besiege the country with the aim of carrying out explorations.
“Already what is happening in this country is that a lot of land has been taken by foreign speculators who are carrying out exploration in many parts of the country and so with the discovery of oil in Gwembe, the country is likely to witness a high number of foreign firms coming to do exploration,” he said.
He said oil by nature was problematic and therefore it was important for the government to handle the issue with utmost care to avoid unnecessary problems as waa the case in most countries, where are oil deposits, sit like the Middleeast.
Mr. Sinkamba said his party was hopeful that with the discovery of oil in Southern province, the country was going to be able to reduce the cost of importing oil from the Middleeast which would result in the reduction of fuel price.
That oil is for us Tongas. What are you talking about? The revenue from the oil shall benefit Tongas first
Zambian mining engineers and geologists do not know how to quantify oil reserves but copper reserves only
Please wait till there’s a responsible Government in place, otherwise the Princess of Mukula, will diversify, leave Mukula & become the New Is0bel D0s S@ntos!
It will be from Chawama with love, to the second richest woman on the continent!
Please do not bring confusion here. There is a process in place when such discoveries are made. It is not yet even certain that there is oil there. Do not bring confusion without facts. Kz
Just wait for UPND government, they will will extract that oil from southern province and send it to Copperbelt’s refinery.
These PF let them concentrate of packing their goods, they have to go back to Katondo street they came from.
let’s wait a responsible government in place before doing anything. with PF, they can mine for 30 years without seeing anything tangible in terms of profits but only seeing them getting richer and richer. let’s tread carefully.
The only people to benefit from oil will be the government and not the people of Zambia,
It’s a pity ECL doesn’t give interviews to the press. He’s just about the olnly leader of a country in modern times who behaves like that. Even Trump knows the importance of talking to the press. It’s part of being accountable in public office.
These tribally bigoted thieves will extract the oil and take the money to develop Chipata, Mwansa, Chinsali and Kasama. I would actually edge Tongas to secede from these stinking thieves.
The first comment by so-called HH has come from someone who doesn’t know how a money economy works. If a resource cannot be sold to others, it’s useless. The simple fact that u need others to buy from u if u’re to prosper means that u need other people and therefore cannot stand alone. But I know that in certain parties, such thinking as the one by HH above is actually public policy already.
Very disgusted by the tribal sentiments being exhibited above. We shall ensure to deal with tribalists very vigorously without fear or favour. Be warned that we can trace you for security reasons.
Mr. Sinkamba, from where did you get this info? Is it from social media or as you say from the daily nation. You should have sought for official confirmation from the GRZ for facts.
Sinkamba. Only a few months back you were calling for selling Zccm-ih, now you want it to quantity oil reserves for a yet to be proved occurrence. Suffice to say this is the sort of venture zccm-ih should be engaging in. Not “alien” investments in investrust. Leave such banking investments to pension houses. Let zccm-ih concentrate on investment in resources extraction.
Njangwamuloty you are a stinking tribalist. You are just as bad and smelly as your sewer name