Ethiopia: Ministry Striving to Solve Problems Related to Petroleum Price Hike

The Ministry of Mines and Energy said it is exerting various efforts to solve rising living cost caused due to petroleum price hike through developing national energy resources.

The ministry said agreements are expected to be reached with Petronas International Company for the development of the Hilala and Kalub natural gas fields in Somali State.

During a conference organized by Ethiopian Economic Association on the impacts of petroleum price hike on the country’s economy and the measures being taken by the government to curb the problem, State Minister of Mines and Energy, Sinkinesh Ijigu said the ministry is exerting efforts to minimize living costs through making use of alternative national energy resources.

Sinkinesh said strategies and polices have been amended in a timely manner to create conducive conditions for private investors to engage in energy development sector.

She said activities aimed at gathering information under one centre are being undertaken.

Currently, the number of investors intending to undertake petroleum exploration and development is steadily increasing, the state minister said, adding the country could benefit from the sector in the coming ten years.

She said negotiations are underway with Petronas Company for the development of Hilala and Kalub natural gas fields in Ogaden locality of Somali State and agreements are expected to be reached soon.

Conference coordinator Dr. Assefa Admasu on his part said the aim of the conference is to share ideas on the measures that should be taken to curb the problem caused due to petroleum price hike.

Dr. Assefa said during the half-day conference various experts in the field are expected to deliberate and enrich the various solutions that are expected to be forwarded.

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