- Ethiopia saves millions of dollars every year by importing from neighbouring Sudan than using Saudi Arabia and the Gulf States, Nile Petroleum Company (NPC) said in a statement. Ethiopia imports 80 percent of its total demands for petroleum from Sudan.
According to the statement, Sudan’s export of Petroleum products to Ethiopia has eased the Horn of Africa country’s massive cost on oil imports.
“Ethiopia spends over 50 percent of its total export earnings to meet nation’s fuel demand and Sudan has now become the major source for the fact that it is only next door,” the statement said.
The Ethiopian petroleum enterprise said the country has managed to save millions of dollars every year by importing from neighboring Sudan, instead of exploring other channels that are costly to the government.
The NPC director, Khidir Al-Badri, also said that the company is assigned to prepare country’s rich ethanol source for the use of fuel. “The bio-fuel development and usage strategy is expected to make the oil company a leading stalk holder in the Ethiopian oil energy market,” he said.
According to the director, the company currently has opened fuel stations in the capital Addis Ababa and in other major cities of Ethiopia.
He further said that Nile Petroleum Company has established partnership with a German company for production of petroleum lubricants that are complying with the international standards to meet requirements of the Ethiopian market.
Ethiopia and Sudan have a number of agreements on cultural, social economic, security, education, health and political matters. Many other cooperation agreements are also signed between the two neighbours to enhance the people-to-people ties, to harmonise the two peoples living along the common border and also aimed at fostering trans-boundary trade beyond their official trade.
The vast country imports agricultural products and livestock from Ethiopia, making it one of the biggest importing countries of Ethiopian products.
Sudan is now one of the largest oil producer in the sub-Saharan Africa, next to Nigeria and Angola. Recent figures indicate that the country currently produces over 400,000 barrels of crude oil per day.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español