Petroleum Africa
Find us on: 
Thursday, June 22, 2017
Central Ethiopia is planning to establish a private oil company, Oromia Petroleum Share Co. If the new firm moves forward it is envisaged that it will import oil via Djibouti, process it at a planned refinery, and distribute to petrol stations.
Talks are already progressing to import Middle Eastern crude for the venture.
The region that Oromia is to be established has seen sporadic anti-government protests and authorities say the company is part of an economic initiative to address some of the roots of the unrest. The petrol stations will be owned and operated by youths in the area.
Tekele Uma, head of the region’s transport authority, said in an interview with Bloomberg that the initiative could potentially create more than 50,000 jobs. It will build a transportation network initially benefiting farmers and manufacturers in the Oromia region who send their products to the capital, Addis Ababa, and other cities, he said.
The company would compete with National Oil Ethiopia Plc, whose shareholders include Saudi Arabian billionaire Mohammed al-Amoudi. NOC is one of Ethiopia’s biggest fuel suppliers, according to a feasibility study shared by Tekele. Oromia Petroleum targets a 21% share of Ethiopia’s fuel market within five years of operation.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
