(Ecofin Agency) - In Tanzania, Addax Energy SA has won the tender to supply petroleum products in the country for March 2016.

The oil company defeated other competitors after presenting the lowest bid at 32.349, the lowest premium ever recorded. It offered GASOIL at premium of 32.580, motor spirit at 29.430, JET A-1 at 44.190 and IK at 44.190.

The bidding which witnessed the participation of three other bidders; Vitol Bahrain (37.630), Augusta Energy SA (36.003), and Sahara Energy (34.309) was directed by the Petroleum Bulk Procurement Agency (PBPA).

According to Tanzania Daily News, the country consumes around 1.54 million cubic metres of petroleum products yearly. The aim of the petroleum bulk procurement system is to create a petroleum supply system in which all companies will be guaranteed of security of supply at the most competitive prices possible.

The PBPA General Manager, Michael Mjinja, said that to this point Addax’s bid was the lowest ever recorded. He noted that this will guarantee that consumers like competitive fuel prices.

Anita Fatunji