Ethiopia Set to Begin First-Ever Oil Exports in September
In a historic milestone, Ethiopia is preparing to export crude oil to international markets for the first time in its history, with Prime Minister Abiy Ahmed announcing that exports will commence in September 2025.
The landmark development comes six years after Ethiopia began its first oil extraction activities in the Ogaden Basin, located in the Somali Regional State. A Chinese company, Poly-GCL Petroleum Group Holdings Limited, has been spearheading oil and gas exploration and development in the region.
This breakthrough is particularly significant for Ethiopia, which has been spending over $4 billion annually on imported petroleum products to meet domestic fuel demands. The country has long claimed to possess substantial oil reserves in the Ogaden Basin, and these claims are now set to transform into economic reality.
The announcement coincides with another major infrastructure achievement, as Prime Minister Abiy revealed that the long-awaited Grand Ethiopian Renaissance Dam (GERD) inauguration is also scheduled within the next two months. The dam, which began construction 15 years ago with an initial cost estimate of 80 billion birr, is now 97.6% complete and already generating 540 megawatts of electricity through two operational turbines.
Source: ethionegari.com
