page contents
Connect with us

Business

Ethiopia to kick start crude oil, natural gas production.

Published

on

Ethiopia will begin extracting crude oil on a test basis from reserves in the country’s southeast this week, state-affiliated media and the prime minister’s office said on Wednesday.

Fitsum Arega, chief of staff in Prime Minister Abiy Ahmed’s office, said on Twitter that Abiy had met with officials from 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,” Fitsum wrote.

The firm is a joint venture of state-owned China POLY Group Corporation and Hong Kong-based Golden Concord Group.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK

The state-affiliated Fana media quoted Abiy as saying 450 barrels would be produced on Thursday on a trial basis.

The prime minister added that full scale production of crude oil in the future, would help the state alleviate unemployment and the prevailing foreign currency shortage.

Ethiopia also projects to earn up to 8 billion US dollars annually once it begins exporting natural gas with its full capacity, he said.

A pipeline to export gas to Djibouti, will be launched in September and will take two years to complete.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH FREE MOBILE TV CHANNELS HERE

Business

The Backbone of Gambian Economy Requires Careful Monitoring – Experts

Published

on

Prospects of a growing GDP must be reflected in growth in exports, foreign direct investment and tourist arrivals. The financial year is almost coming to an end but not much has been said about the main export crop.



Earlier a press release was issued questioning the prospects of the farming season.
However, the government has not said much about the trade season. It is standard of good practice to announce the prices of crops before they are even sown to motivate farmers to aim to have bumper harvest.
Now farmers are still waiting to be assured that their crops will be bought at reasonable prices. It is therefore important to keep an eye on the trade season and tourist arrivals as pointers to growth or decline in GDP.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Continue Reading

Business

China eliminates poverty in 85 counties

Published

on

By

images (3)

China, on Wednesday, announced that another 85 counties have been officially taken off the country’s list of impoverished areas, marking further steps toward its goal of eradicating poverty by 2020.

FOLLOW US ON:
 INSTAGRAMLINKEDINYOUTUBETWITTER & FACEBOOK



The announcement, made by the State Council Leading Group Office of Poverty Alleviation and Development, came on the fifth National Poverty Relief Day, which falls on October 17 every year.

IMG-20180912-WA0030

This is the largest number of counties to shake off poverty since China vowed in 2015 to win the battle against poverty.

It brings the total number of counties removed from the poverty list since then to 153.

TO DOWNLOAD OUR MOBILE NEWS APP CLICK HERE
WATCH RUSSIA 2018 HIGHLIGHTS HERE

Continue Reading

Facebook

Advertisement
Advertisement

Trending

Copyright © 2018 Anttention Media. All rights reserved