Sudanese Energy Company to Resume Ethiopian Supply

Feb 10 , 2024


Ethiopian Petroleum Supply Enterprise(EPSE) and Nile Petroleum Corporation signed a Memorandum of Understanding to resume the supply of Liquefied Petroleum Gas(LPG) at the Hilton Hotel on Menelik II Ave after a protracted break. Nile used to also supply Bezene for the EPSE, which is a part of the country's sovereign wealth fund, Ethiopian Investment Holding(EIH), until conflict broke out in Sudan last year. The Sudanese Energy company is set to resume the supply of LPG, which was stopped due to foreign currency shortages and pervasive security problems. Esmelalem Mehretu, CEO of EPSE, indicated the significant contribution of the MoU with Nile in decreasing deforestation and minimizing the escalation of household energy costs. "We will begin imports as soon peace is restored," noted Esmealem. The agreement between the two enterprises requires around two million dollars in four months to effectively meet local demand. LPGs, which are primarily used in households for cooking and heating purposes, are composed of either propane or butane alone or a mixture of the two.


Radar

Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


Radar

Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


Radar

City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...