Ethiopia imports worth $2.8 billion petroleum

Ethiopia has imported close to 81.8 billion birr (around $2.82 billion) fuel during the fiscal year concluded July 7, 2019, said Ethiopia Petroleum and Supply Enterprise (EPSE).

The state enterprise stated that including kerosene, benzine and aviation fuel, the east African country has imported a total of 3.889,609 metric tons of petroleum products. The petroleum products are purchased from the neighboring Sudan and Kuwait, according to the state daily, Addis Zemen newspaper, which quoted the communications head of EPSE, Alemayehu Tsegaye.

He stated that the purchase of 75 percent of benzine and 50 percent is made through direct deal made between the government of Ethiopia and the two countries, while the rest of the petroleum products are purchased through international bid. After purchasing the petroleum products, the Enterprise supplies to 29 petroleum companies in Djibouti, which bring and do the retail in Ethiopia.

Commenting on the fuel reserve of Ethiopia, Mr. Alemayehu indicated that there is a reserve of 369,000 metric tons of fuel in 13 fuel depots found across the country. He also indicated that to double fuel reserve capacity of the country, the Enterprise is currently constructing a new depot, which will double the current fuel reserve capacity of the country.

Currently the Enterprise is building a fuel depot, which has 30 metric tons capacity. In addition, EPSE is also planning to have additional fuel depot in the eastern part of the country, Dire Dawa city.
While, the income of Ethiopia from export of goods has been declining over the past years dropping to $2.3 billion last year, on the contrary its import bill of fuel and other items has been increasing.