Namibia Court Rules Cabinet Decision to End Glencore Deal Valid
The government acted within its powers to revoke the mandate of the country’s state oil company to import half of Namibia’s crude requirements, according to a copy of the Windhoek-based court’s judgment, e-mailed today.
Namcor had entered in a joint venture with Glencore and Petroneft International Ltd. in 2008 to source the oil, the court said.
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