The refinery will mainly serve Ethiopia, but also part of the East African market. Ethiopia’s first oil refinery was established in 1967 in the port of Assab. Built by Russian engineers during the imperial regime, it had the capacity to produce 500,000 tons of fuel per year, which then grew to 800,000 tons.
What is the capacity of the Ethiopian refinery?
The refinery will have the capacity to transform six million tons of crude oil, equal to about 120,000 barrels a day. Ethiopia currently uses three billion tons of fuel each year. The capacity of the refinery will eventually be extended to 12 million tons per year.
Who will finance the Ethiopian refinery?
The construction of the refinery in Ethiopia is to be financed by the Americans. Fairfax Africa Fund, an investment company based in the United States, expects a total investment of four billion dollars in collaboration with Asian partners.
How much oil does Ethiopia use?
Ethiopia currently uses three billion tons of fuel each year. The capacity of the refinery will eventually be extended to 12 million tons per year. The refinery will mainly serve Ethiopia, but also part of the East African market. Ethiopia’s first oil refinery was established in 1967 in the port of Assab.