The Ministry of Mines and Petroleum disclosed that the British energy firm New Age (African Global Energy Ltd) has discovered 1.6 Trillion Cubic Feet of natural gas reserve in the Ogaden basin, Somali Regional State.
State Minister of the Ministry of Mines and Petroleum Guang Tutlam (MD), told The Reporterthat New AGE has discovered 1.6 Trillion Cubic Feet of Natural gas in a locality called Elkuran. “We are now working on the gas commercialization. We are looking at ways how to market the gas,” Guang said.Write comment (0 Comments)
Three international oil trading firms bidding to supply fuel to the Ethiopian Petroleum Supply Enterprise (EPSE) in the 2019 fiscal year. Last September EPSE has floated a tender inviting international oil trading companies for the supply of fuel to be delivered as of January 2019. The enterprise wants to procure 1.35 million metric tons of gasoil, 240,000 metric tons of jet fuel and 350,000 metric tons of gasoline. The enterprise requested international oil trading firms to submit their technical and financial offers by October30, 2018. The bid opening was scheduled for October31, 2018. However, based on the request made by the bidders it was postponed to November8.
Tadesse Hailemariam CEO of EPSE told The Reporter that 36 oil companies bought the bid document. However, he said only three companies- TRAFIGURA PTE LTD, Vitol Oil and Petro China-have submitted their technical and financial proposals to the enterprise. Tadesse said that the bid committee was evaluating the technical proposals adding that the financial proposal will be opened next week. “If all the three companies pass the technical evaluation the financial proposal would be opened next week and the least bidder will be the winner,” he said.Write comment (0 Comments)
A rebel group in eastern Ethiopia’s gas-rich Somali region began landmark peace talks with Prime Minister Abiy Ahmed’s government. The talks may lead to a referendum on self-determination after a three-decade insurgency by the Ogaden National Liberation Front in an area where gas extraction could generate $7 billion of state revenue a year. They’re the latest step toward a political thaw in the Horn of Africa country in the wake of sweeping political reforms initiated under Abiy since he came to power in April.
The Ethiopian Petroleum Supply Enterprise (EPSE) will soon float an open international tender inviting oil trading companies for the supply of fuel to be delivered in 2019. EPSE estimates that the country would need 2,780,000 metric tons of gasoil, 840,000 metric tons of jet-fuel, 494,000 metric tons of gasoline and 83,000 metric tons of fuel oil. The country’s total annual fuel demand in 2019 is estimated at 4,197,000 metric tons valued at 2.8 up to three billion dollars.
Based on the agreements the Ethiopian government signed with the governments of Kuwait and Sudan a few years ago a significant amount of fuel is purchased from the state owned national oil companies of the two countries without a tender. Tadesse Hailemariam CEO of EPSE told The Reporter that 50 percent of the gasoil and 100 percent of the jet fuel would be supplied by the Kuwait Petroleum Corporation (KPC). Fifty percent of the gasoil would be purchased from oil trading companies through the open international tender which EPSE would put up in end of September.Write comment (0 Comments)