Puma Energy Tanzania Reports Loses over Oil Thefts

Puma Energy Tanzania Reports Loses over Oil Thefts

Puma Energy Tanzania has appealed to the government to put in place control mechanisms in order to curb theft of oil during discharge to its storage facilities which it said have caused losses amounting to approximately $64m between 2014 and the first quarter of 2015, Daily News wrote.

The Board Chairman of the company, Dr Ben Moshi, made the appeal shortly before presenting a receipt of $210m to the minister, as dividends to the government for the year 2015.

Moshi said: “We could have paid more dividends to state coffers if government institutions purchased oil from the company and if there were no losses due to the theft.” During the financial year 2014/2015, Puma Energy Tanzania paid dividends amounting to approximately $180m and the company is optimistic about dishing out more money next year.

Meanwhile, the company has made a case to the Government Procurement Services Agency (GPSA) to purchase petroleum products from the firm to boost government revenues, All Africa reported. This is in line the government’s directives that all public institutions should from the next financial year procure goods and services from state-owned institutions, the Tanzanian Minister of Finance and Planning, Dr Philip Mpango, stated.


The government of Tanzania controls 50% stake in the Puma Energy company while Puma International has the remaining 50%.


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