New Business Ethiopia

Even though crude oil reserve was found in Ethiopia’s Legehida and Were-Ilu weredas (districts) of Amhara Region by the British company Falcon Petroleum, the operation was halted for undisclosed reason, farmers in the area said. Now the government is set to auction the site for other interested oil and gas exploration companies.

Poly-GCL Petroleum Investment Limited today officially kick start crude oil production test in Ogaden Region of Ethiopia. The test production came after the heads of the company have met with Prime Minister Dr Abiy Ahmed yesterday. The two have talked about the prospect of commercial quantities of crude oil in the region.

BY ANDUALEM SISAY GESSESSE [OPINION] – At the time Ethiopian political crisis was at its pick, one major news appeared on one of the few private newspapers published in Addis Ababa. But it didn’t seem to get much of the attention of the public, whose worry at the time was the fate of Ethiopia as […]