Ethiopian Government Forms Company to Develop Oil, Gas Resources


Ethiopia’s government will form the Petroleum Development Enterprise that will develop oil and gas resources in partnership with private companies, Mines Minister Sinknesh Ejigu said. The state-owned company will “bolster and enhance development,” Sinknesh said. A similar public enterprise will be set up to extract mineral resources including precious metals, tantalum and potash, she said. The “whole idea” of the enterprise is to work with industry, Sinknesh said. “The private sector is the engine of development, provided they are developmental.”