Mozambique Oil & Gas: Country loses US$600Mi/y due to fuel smuggling
Mozambique has announced new measures to tackle the sale of contraband fuel, which it says costs the economy about $600m every year, the BBC reports.
Tax Authority Chairwoman Amelia Nakhar says a contract will be finalised by the end of this month to label all petroleum products, “distinguishing which are for internal consumption and which are in transit to neighbouring countries”.
Natural resources account for a significant amount of Mozambique’s gross domestic product, and the discovery of gas fields off Mozambique’s coast in 2011 is set to transform the economy of one of Africa’s poorest nations.
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