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capital Newspaper
The new initiative that will change the relation of Ethiopian Petroleum Supply Enterprise (EPSE) and petroleum companies is expected to commence in the coming week.
The recently formed Petroleum and Petroleum Products Supply and Distribution Regulatory Authority, which is under the Ministry of Trade and Industry, had conducted different studies under the initiative to improve the petroleum business in general and improve the distribution without fraud.
One of the initiatives was to improve the relationship between the oil companies and EPSE, which is the sole oil supplier for companies, and payment modality for the supply of oil.
In this regard, the authority had disclosed that the companies will start buying the fuel on cash basis which will be fully implemented in one year’s time.
capital Newspaper
Amhara region has introduced an initiative to construct over 800 oil retail outlets and 100 operational and medium strategic deport in the coming one year on the aim to improve the poor petroleum supply in the region.
Berhanu Taemalew, head of Trade and Market Development Bureau of Amhara, said that the existed dealers’ stations are very far from the growing demand of fuel in the region.
He said that the region had conducted a study that indicates the growing demand of petroleum in the coming five and ten year period.
Currently, the demand is growing drastically in the region in relation with the growing number of vehicles mainly three wheeler cars that expanded in to remote areas in the region. In addition the expansion of household farmers’ irrigation scheme and the increasing access of transportation on all rural areas and other reasons have contributed to the demand.