Ethiopian Oil Company to Launch Operations Regionally

(H0rnTrade) – National Oil Ethiopia Plc (NOC) is exploring the launch of operations in the East African Nations of Southern Sudan and Djibouti. NOC will install fuel stations and depots to provide complete oil retailing services in these countries, once a final decision has been made.

“We have only a plan and we are only exploring business opportunities in these countries. We are not sure whether we will be entering these markets or not” said Tadesse Tilahun, CEO and shareholder of NOC. The CEO explained that NOC is just investigating business opportunities in neighboring countries and has not made a final decision to enter the regional markets.

There have, however, been indications that the company may be seeking operational license in both markets from other sources.

NOC managed to make a significant impact on the Ethiopian fuel market in its six and half years in business. It is estimated by industry observers that NOC and Total control over 40% of the national market.

National Oil currently runs more than 100 fuel stations across the country and has plans to open more stations in Addis Ababa as well as in other regions of the country, said company representatives.

The company has built an aviation depot on Ethiopian Airlines grounds and is in the process of constructing a fuel depot with an installed capacity of 6 million litres on land leased from the Oromia regional state in Dukem.

The majority shareholder of NOC is Sheik Al-Amoudi.

Source: The Reporter

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