The Ethiopian Petroleum Supply Enterprise (EPSE) is looking for funds for the construction of a new national fuel depot.

The demand for petroleum products has declined significantly as the COVID-19 pandemic slows down economic activities in the country.

The longest-serving fuel and lubricants marketing company in Ethiopia, Total Ethiopia SC, has pledged to invest USD 100 million in Ethiopia if the government makes adjustments on the profit margin of fuel distribution prices.

The House of People’s Representatives (HPR) has approved a draft legislation for the establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority. First tabled before the House in April this year, entitled, ‘a Proclamation to provide for the Establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority, was referred to the Trade and Industry Affairs Standing Committee for further revision.

The Ethiopian Petroleum Supply Enterprise (EPSE) disclosed that the design work on the new modern fuel depot is well under way.

The Addis Ababa city administration deputy mayor Takele Uma (Eng.) has warned gas stations and petroleum companies operating in the city to properly discharge their responsibility.  

In the wake of a clash between defense forces and local residents in Western Gondar, Amhara Regional State, on Wednesday fuel tanker trucks which were transporting gasoline from Sudan to Ethiopia have been stranded in Western Gondar.

The Ethiopian Petroleum Supply Enterprise (ESPE) will award the petroleum supply contract of 2019 to PetroChina next week.  

The Commercial Bank of Ethiopia (CBE) is yet to consolidate its operations in one of its long-standing foreign branches, located in the downtown of Djibouti, The Reporter has learnt.

The illicit fuel trade in the capital Addis Ababa and regional towns caused gasoline shortage.