Petroleum / Mining in Ethiopia
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BOTSWANA, 2017/05/04
Ghana and Nigeria are the first countries to respond to reports of European companies exploiting weak fuel standards in Africa. Stricter limits on the sulfur content of diesel will come into force on July 1.
Governments in West Africa are taking action to stop the import of fuel with dangerously high levels of sulfur and other toxins. Much of the so-called "dirty diesel" originates in Europe, according to a report published by Public Eye, a Swiss NGO, last year.
The report exposed what Public Eye calls the "illegitimate business" of European oil companies and commodities traders selling low quality fuel to Africa. While European standards prohibit the use of diesel with a sulfur content higher than 10 parts per million (ppm), diesel with as much as 3,000 ppm is regularly exported to Africa.
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BOTSWANA, 2016/05/11
Oil, gold, diamonds, palm oil, cocoa, timber: raw materials have long been linked to Africa in a lot of businesspeople’s minds. And in fact the continent is highly dependent on commodities: they constitute as much as 95% of some nations’ export revenues, according to the United Nations Conference on Trade and Development.
But propping a country’s entire economy on commodities is risky business, like building a mountainside home on stilts. You can’t be sure about the weather, or in this case the commodities market. The current free-fall of oil prices to less than $40 a barrel is a glaring example. “The commodities cycle has tanked out,” says Austin Okere, founder of Computer Warehouse Group (CWG), a Nigerian emerging multinational financial services company. “And this time it looks additional structural than cyclical, so it’s not a matter of waiting it out. Something has to give.”
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CHINA, 2015/09/23
A Chinese company engaged in natural oil gas exploration with a capital of five billion USD in Ethiopia is expected to produce 40 billion gallon gas next three years.
President Dr Mulatu Teshome held talks with Chinese Poly Technology Company Vice President Huang Geming at the National Palace yesterday.
President Mulatu said the relationship between Ethiopia and China would help attract additional huge companies into Ethiopia.
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ETHIOPIA, 2015/01/05
Ethiopia's Extractive Industries Transparency Initiative (EEITI) national secretariat brought together national stakeholders for a conference on 24-25 December 2014, on the contribution of the mining sector to Ethiopia's economy inclunding familiarizing them on the EITI process.
The national secretariat is hosted by the Ministry of Mines and Ethiopia has as well set up an EEITI multi-stakeholder national steering committee, comprising the government, private sector, and CSOs.
The conference raised awareness part federal and regional relevant personnel of the key implementing partners with regards to federal and regional mining, environmental protection, audit, finance and economic development and Inland Revenue bureau on EITI process.
The conference as well examined licensing and government of minerals and petroleum; revenue management; environmental protection; supporting and coordinating artisanal mining; natural resource management and CSO concerns; inclunding price chains and marketing.
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ISRAEL, 2014/03/25
The Israeli company, ICL, are extremely experienced and will provide Allana Potash with expert assistance
ICL, an Israel-based fertiliser producer, has bought a 16pc share in Allana Potash Afar Plc. Allana received a license to start potash production in Afar last October.
The two companies signed the agreement on Tuesday, March 18, 2014, at Elily Hotel, along the Guinea Conakry Street in Kasanchis.
Allana's potash project is in the Danakil area of the Afar Region.
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ETHIOPIA, 2014/03/09
Africa Oil Corp has announced that it has received Ethiopian government approval in respect of two farmout agreements:
Marathon Oil Corp, through its all-owned subsidiary Marathon Ethiopia, will acquire a 50% interest in the Rift Basin Area;
New Age Ethiopia acquire a 40% interest in the Adigala Block.
Under the terms of the Marathon Oil farmout agreement, Marathon Oil will acquire a 50% interest in the Rift Basin Area in Ethiopia. Africa Oil will maintain operatorship of the block, but Marathon Oil has the right to assume operatorship if a commercial discovery is made.
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ETHIOPIA, 2014/02/23
The British Oil company prospecting for oil in the Ogaden basin, New Age, has noted oil and gas flow in its appraisal well Elkuran-3. New Age started drilling the appraisal well last October, with a targeted depth of 2,850 meters. R
eliable sources told The Reporter that a crew was drilling the well at the same time as it noted oil and gas flow at a depth of 1200 meters on February 12, 2014.
"Oil and gas shows were noted throughout the intervals," the source said. The results are similar to that of Tenneco, the American company that drilled the initial exploration well in the Elkuran locality in the 1970s. "Tenneco's drilling crew encountered similar results in 1972," the source said.
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BOTSWANA, 2012/12/25
World gas request is projected to reach 3,460.7 billion cubic meters (bcm) in 2013, constituting an increase of 3.6% from 3,341.4 bcm in 2012. North America's gas consumption is estimate to reach 890.3 bcm in 2013, equivalent to 25.7% of world request. It would be followed by Asia & Australia with 720.8 bcm (20.8%), Eastern Europe & the Commonwealth of Independent States with 587.4 bcm (17%), Western Europe with 533 bcm (15.4%), the Middle East with 445.7 bcm (12.9%),
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ETHIOPIA, 2012/12/20
Uganda and Kenya have recharged plans for an oil pipeline aimed at transporting petroleum products between the two east African countries. Analysts praised the move, saying it was going to be beneficial for both countries as they will be producing oil soon. As for Uganda, hopes of the eventual redemption of its economy are pinned on the oil industry.
The country recently raised the amount of oil reserves discovered so far to 3.5 billion barrels but production is not expected until 2017.
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ETHIOPIA, 2012/12/16
Ethiopia promises excellent opportunities for mineral prospecting. The mining sector is taking gigantic steps to become a pillar for the development of the country and it has generated extra than US$500 million in revenue for Ethiopia over the past nine months, according to Sinknesh Ejigu, Minister of Mines of the Federal Democratic Republic of Ethiopia (FDRE).
In addition to gold, Ethiopia is blessed with deposits of tantalum, platinum, nickel, potash and soda ash. The country as well holds numerous minerals sought after by the construction and industrial sectors, including marble, granite, limestone, clay, gypsum, gemstone, iron ore, coal, copper, silica, diatomite, and bentonite.
