By Wendell Roelf
Ethiopia’s leading private oil marketer plans to build a $5 billion (R62bn) refinery within 10 years to meet the growing demand for refined products in a region experiencing fast economic growth.
A refinery could compete with imports from India, the Gulf and beyond, and also help African countries extract more value from their own oil discoveries. Eastern Africa is the latest frontier in the global hydrocarbon hunt after gas discoveries off Tanzania and Mozambique and oil finds in Uganda and Kenya.
Tadesse Tilahun, the chief executive of National Oil Ethiopia, said the final decision to build a refinery producing between 200 000 to 300 000 barrels per day was yet to be taken.
Source: Reuters
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