THE Energy Regulation Board has suspended the operating license of Exxon Petroleum Energy limited for alleged fraudulent practices.
The company belonging to Oil Marketing Association of Zambia (OMCAZ) president Dr Kafula Mubanga has a myriad of law suits filed against it by many companies for non supply of fuel.
Recently, Judge Chilombo Maka had ordered Dr Mubanga to pay Luapula Energy Limited K3,506,195.90, for 52 tankers of petroleum products obtained by his company on credit.
Exxon Petroleum Energy limited failed to clear the outstanding debt and enter defense in the matter.
Attempts to have bailiffs pounce on its bank accounts to recover the debt proved futile as the accounts are overdrawn.
Judge Maka compelled Dr Mubanga to settle the debt as he was in charge of running the company.
Surya Energy limited has also sued Exxon Petroleum Energy limited demanding payment of K500, 111.00 for the non supply of 40,000 liters of fuel from Tazama pipeline in Tanzania.
Another judgement in default was entered against the company in February this year in favor of the Energy Regulation Board for payment of K620,444.17 being outstanding statutory fees owed to it.
By Mwaka Ndawa
Kalemba June 6, 2024.
