Zambia shortlists five firms for majority stake in oil refinery

Zambia has short-listed five companies including Britain’s Glencore Energy and Sahara Energy Resources to buy a majority stake in its only oil refinery, a state-owned firm said on Monday. The government-owned Industrial Development Corporation (IDC) has said it wants a strong strategic equity partner that will improve the production capacity of Indeni Oil Refinery to a level that will meet the nation’s future petroleum demand.