Ethiopia gets $1 billion fuel from Sudan

Ethiopia receiving massive oil imports from Sudan.ADDIS ABABA: It comes via Djibouti and has the Ethiopian government optimistic that energy needs in the country are to be met. According to some here in Addis Ababa, the move by Sudan to export some one million metric tons of petrol to their East African neighbor is part of efforts to help reduce the need to move fast on building the massive Renaissance Dam project that has left much of the Nile Basin tense.“I think this is a positive step on both sides,” an Ethiopian government consultant told Bikyanews.com. “It shows that we as a region are willing to compromise and meet goals without causing unduly harm. Considering the dam project and the anger from Khartoum and Cairo over it, helping give us energy needs is positive.”Officials reported the amount of fuel that has been imported equals $1.12 billion over the past 6 months.And it isn’t expected to curtail in the near future, the consultant said. He argued that over the next 6 months, Ethiopia expects to receive a similar amount of fuel to help meet the growing economy of the East African country.The fuel imported during first half of the Ethiopian fiscal year was a rise of 21 percent in comparison to the same period last year.According to EPSE’s spokesperson, Alemayehu Tsegaye, the imported 1,091,823 metric tonnes of fuel surpasses the initial planned target of 1,093, 073 metric tonnes.Ethiopia imports up to 85 percent of its annual oil consumption from neighboring Sudan, largely due to its geographic proximity. This recent report shows that Sudan is making a push to increase the total in order to dissuade the country from continuing to move fast on its dam project, which Khartoum and Cairo say threatens their water availability.The Horn of Africa nation saves at least $10 million in transit related costs per year by using Sudanese oil sources rather than importing from markets further afield, such as the Middle East.During the stated period of the budget year, Ethiopia has also imported over 125,000 metric tons of coal and spent over $20 million on maintaining sustainable energy supplies for manufacturing and industry.Over 50 percent of Ethiopia’s imports are to meet the nation’s fuel demand.BN