• 2 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 7 minutes Sources confirm Trump to sign two new Executive orders.
  • 1 hour COVID is real now
  • 4 hours Is the oil & gas industry on the way out?
  • 20 hours In a Nutshell...
  • 1 day Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 20 hours Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 4 hours The Boris Yeltsin of America
  • 3 days Where is Alberta, Canada headed?
  • 2 hours Why Oil could hit $100
  • 3 days No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 3 days Putin Paid Militants to Kill US Troops
  • 4 days A Real Reality Check on "Green Hydrogen"
  • 3 days During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 3 days The Coal Industry May Never Recover From The Pandemic
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

This Country Just Started Pumping Oil For The First Time Ever

Ethiopia began on Thursday its first-ever crude oil production under a test production scheme that will see initial production of 450 barrels of oil per day.

Ethiopia, a rather large country in east Africa, started production from oil fields in its southeast today.

On Wednesday, Fitsum Arega, Chief of Staff of Ethiopia’s Prime Minister Office, said that Ethiopian Prime Minister Abiy Ahmed met with representatives of the company Poly-GCL Petroleum Investment Limited “to officially kick start crude oil production test in Ogaden Region. The company has discovered that there is a prospect of commercial quantities of crude oil in the region.”

Poly-GCL Petroleum Investment is a joint venture of state-owned China POLY Group Corporation and the Hong Kong-based company Golden Concord Group.

Prime Minister Abiy Ahmed said that Poly-GCL Petroleum Investment Limited would start producing 450 barrels of crude oil a day as of June 28, state-affiliated Fana outlet reports.

Ethiopia also plans to start in September the construction of a pipeline that would export natural gas via Djibouti, Ethiopia’s neighbor to the northeast that lies on the Bab-el-Mandeb Strait. The strait is located between Yemen on the Arabian Peninsula and Djibouti and Eritrea in the Horn of Africa, connecting the Red Sea with the Gulf of Aden, and a major sea route for crude oil from the Middle East. Related: How Important Are Egypt’s Gas Discoveries?

The construction of the natural gas pipeline via Djibouti will take two years, Fana quoted the Ethiopian prime minister as saying.

Once Ethiopia starts exporting natural gas at full capacity, it hopes to earn US$8 billion a year, PM Ahmed said.

Crude oil and natural gas income could help Ethiopia in the future to reduce unemployment and ease its foreign currency shortage, Ahmed noted.

Earlier this month, the United Arab Emirates (UAE) pledged US$3 billion in aid and investments to Ethiopia, including depositing US$1 billion in Ethiopia’s central bank to ease the severe foreign currency crunch.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Hal Slusher on June 29 2018 said:
    As I have always said poke a hole in the ground get oil and natural gas. We just keep finding more and more and more either we use it or the volcanoes will burn it.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News