Petroleum Fund was approved by Government in 1995 following a request to do so by the Ministry of Natural Resources and it was legally established by the Establishment of Petroleum Fund Legal Notice No. 96 1997. The need for the Fund had been prompted by the necessity to have some measure of fuel supply security in the absence of strategic fuel storage facilities.
In addition, the Republic of South Africa under the auspices of the Interstate Oil Committee (IOC) was urging member states to collect their trust funds, which were then administered by the Republic of South Africa, Central Energy Fund (CEF) following the oil embargo against the RSA. These Funds were contributed by IOC Member States into the then Equalization Fund to ensure availability of petroleum products within the SACU region. Creating the Fund enabled the transfer of Lesotho Trust Funds into the Country and the Idea was that these funds should benefit the users of petroleum products (motorists and the public at large).
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Contact details
Physical Addreass
LLCI Building
Open Road
Corner Princess Margaret
Old Europa
Maseru, Lesotho
Postal Address
Chief Executive Officer
P.O Box 7431
Maseru 100
Contacts
Telephone: (+266) 22312137
Tollfree 80022004
Fax (+266) 22310152
Email administrator@petroleum.org.ls