TIPER

TIPER (oil terminal)
Industry Tank farm
Founded 1999
Headquarters Dar es Salaam, Tanzania
Key people
 Abdulkarim Mruma (Chairman)
Daniel Belair (MD)
Total equity TSh 100 million[1] (2004)
Owner GoT / Oryx Energies (50%)

The Tanzania International Petroleum Reserves Limited (TIPER) is a joint venture between the Government of Tanzania (GoT) and Oryx Energies. It operates the largest oil terminal in the country,[2] and will have a storage capacity of 213,200 m3 by 2015.[3]

The terminal is located at Kigamboni, opposite the Port of Dar es Salaam.

History

TIPER (refinery)
Country Tanzania
City Kigamboni, Dar es Salaam
Refinery details
Owner(s) GoT / Agip (50% each)
Commissioned 1966[4]
Decommissioned 1999[5]

The plant was commissioned as an oil refinery in the 1960s. It was then known as the Tanzanian and Italian Petroleum Refining Company Limited (TIPER), owned jointly by the GoT and Agip (Tanzania) Limited.[6] After the signing of the agreement in 1963, it was built by the Italian state-owned Eni between February 1965 and June 1966 at a cost of TSh 100 million. In 1969, the GoT purchased half of the shares. It was a small refinery with a capacity to process 600,000 tonnes per annum.[5]

Prior to the liberalisation of the petroleum industry in 1997, TIPER produced 30 percent of the local requirements and the rest was imported by the state-owned Tanzania Petroleum Development Corporation (TPDC).[7]

In 1991, under pressure from the International Monetary Fund (IMF), operations ceased at the refinery in order to implement the country's Structural Adjustment Program. The IMF argued that it was operating at 60% of its capacity.[8]

In 1999, Swiss based Oryx Energies acquired Agip's assets in Tanzania.[9]

In 2012, the GoT was considering using the oil terminal as part of its national strategic petroleum reserve.[10]

In November 2014, the government as the silent partner, suggested that the firm be led by an independent team. Oryx Energies disagreed.[11] The firm expects to build new storage tanks and thereby increase its capacity by an additional 100,000 m3.[3]

Corporate affairs

Fiscal year: 1 January to 31 December
(amount in TSh million) 2009 2010 2011 2012 2013 2014
Earnings before interest and taxes (EBIT) 8,800 TBA
Corporation tax 2,740
Dividends (to GoT) 1,300 1,000 2,000 1,000 1,275
Sources [12] [12] [12] [12] [2]

See also

References

  1. ↑ "Annual Report" (PDF). Tanzania Petroleum Development Corporation. 2005. p. 45. Retrieved 8 August 2015.
  2. 1 2 "Tiper hands over Sh1.3bn to State after Sh6bn profit". The Citizen. 16 June 2014. Retrieved 7 August 2015.
  3. 1 2 "Tiper to instal on-stream tanks". Daily News. 6 August 2015. Retrieved 7 August 2015.
  4. ↑ B. S. Hoyle (26 July 2012). Seaports and Development: The Experience of Kenya and Tanzania. Routledge. pp. 132–. ISBN 978-1-136-86604-3.
  5. 1 2 Andrew Coulson (25 July 2013). Tanzania: A Political Economy. OUP Oxford. pp. 211–. ISBN 978-0-19-967996-6.
  6. ↑ John M. Stopford; John H. Dunning; Klaus Haberich (1980). The World Directory of Multinational Enterprises. Facts on File.
  7. ↑ "Tanzania to revive oil import monopoly". TheEastAfrican. 19 November 2007. Retrieved 7 August 2015.
  8. ↑ Lymo, Karl (10 April 2009). "IMF can atone for its sins by building us a refinery". TheEastAfrican. Retrieved 7 August 2015.
  9. ↑ "Oryx Energies - Tanzania". Oryx Energies. Retrieved 7 August 2015.
  10. ↑ "Firm set to double fuel storage capacity". The Citizen. 18 June 2012. Retrieved 7 August 2015.
  11. ↑ "Tanzania govt, Oryx differ on management of oil reserve". TheEastAfrican. 1 November 2014. Retrieved 7 August 2015.
  12. 1 2 3 4 "Govt gets Sh1bn in dividends". The Citizen. 10 July 2012. Retrieved 7 August 2015.

Coordinates: 6°50′39″S 39°18′42″E / 6.84417°S 39.31167°E / -6.84417; 39.31167

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