See also:
» 14.05.2010 - Nile water resource dispute splits region
» 04.03.2010 - Mercenary activities focus at Addis Ababa meeting
» 25.02.2010 - Ethiopia calls for back-up
» 15.02.2010 - Ethiopia and UK leaders to head climate change team
» 02.02.2010 - African leaders tackle malaria
» 28.01.2010 - Underdevelopment pose serious threat to Africa, Ban
» 14.01.2010 - Ethiopia launches hydro-power plant
» 04.01.2010 - Eritrea was provoked - government











China wholesale online through DHgate.com


Houlihan's coupons


Finn autentiske matoppskrifter fra hele verden på Verdensmat.no:
Gazpacho Børek Kartoffelsalat Taboulé Gulasj Albóndigas Cevapi Rougaille Japrak sarma Zwiebelbrot Klopse Giouvetsi Paella Pljeskavica Pica pau Pulpo a la gallega Flammkuchen Langosj Tapenade Chatsjapuri Pasulj Lassi Kartoffelpuffer Tortilla Raznjici Knödel Lentejas Bœuf bourguignon Korianderchutney Brenneslesuppe Proia Sæbsi kavurma Sardinske calamares


Autentiske matoppskrifter fra hele verden finner du på Verdensmat.no:
Réunion Portugal Aserbajdsjan Serbia Tyskland Seychellene Bosnia Spania Libanon Belgia India Kroatia Hellas Italia Ungarn Komorene Georgia Mauritius Østerrike Romania Frankrike


Ethiopia
Economy - Development | Politics

"Multinationals flee Ethiopia oil fields"

Oil explorations in Ethiopia by Africa Oil Corporation

© AOC/afrol News
afrol News, 8 October
- After Malaysia's Petronas this week sold out its oil and gas interests in Ethiopia's turbulent Ogaden region to the Ethiopian-owned company SouthWest Energy, rebels in the Ogaden today claim an important victory.

The Ogaden region in eastern Ethiopia, a sparsely populated area dominated by the Somali people, holds the country's largest proven hydrocarbon bearing sedimentary basin. Proven gas reserves are at 2-4 trillion cubic feet, but poor infrastructure and political instability has led to a slow development of the fields.

Oil and gas exploration in the Ogaden so far has been headed by the Malaysian company Petronas and the Vancouver-based Africa Oil Corporation. Ogaden rebels have on several occasions pressurised the foreign companies to leave the region.

Today, the Ogaden National Liberation Front (ONLF) claims its campaign against the "multinationals" has seen its first success. The rebels doubt that a real, market-based "sale" has taken place.

Petronas had opted to leave Ethiopia and the take-over by Hong Kong-based but Ethiopian-owned SouthWest Energy was only "a face-saving measure" by government, an ONLF statement claims. The intention was "to hide Ethiopia's incapacity to resolve the conflict in the Ogaden in a just way peacefully or through a negotiated settlement," the statement added.

SouthWest majority owner Tewodros Ashenafi, on the other hand, says the deal with the Malaysians was stroke already on 24 September on his company's initiative. "This is a fantastic opportunity for SouthWest Energy to expand its exploration and production activities in Ethiopia," commented Mr Ashenafi.

The transaction would transform SouthWest into "the leading force in the Ethiopian upstream industry," he added. The company now was to work on developing transport solutions for hydrocarbons in the Ogaden Basin. "This development will be a cornerstone not only for SouthWest Energy's future growth, but also for the oil and gas industry in Ethiopia," Mr Ashenafi said.

Petronas has not made any statements about why it decided to sell all its Ethiopian assets. However, reports in the Malaysian press indicate that the state-owned company was disappointed by the drilling results. The discoveries, although substantial, were not great enough to defend further infrastructure investments in the remote area.

Surely, constant pressure from the Ogaden rebels and steadily increasing security costs and efforts may have contributed to Petronas' decision.

For the ONLF, the decision in any case is a propaganda victory. Foreign companies had now "seen through Ethiopia false claims of controlling the Ogaden and had opted out of the Ogaden. Therefore, the regime had been forced to hide behind its own company in order to cover up its inability to guarantee to companies access to what it does not own or control," the rebels hold.

The Ogaden rebel movement again pointed to human rights abuses and "massacres" committed by the Ethiopian army in the province in connection with oil exploration - a claim partly sustained by research done by Human Rights Watch. The Ethiopian government forcefully has rejected these claims.


- Create an e-mail alert for Ethiopia news
- Create an e-mail alert for Economy - Development news
- Create an e-mail alert for Politics news


 
    Printable version


On the Afrol News front page now

Rwanda
Rwanda succeeds including citizens in formal financial sector

afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.

Famine warning: "South Sudan is imploding"

afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
Guinea
Panic in West Africa after Ebola outbreak in Guinea

afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
Ethiopia
Ethiopia tightens its already strict anti-gay laws

afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
Ethiopia
Ethiopia plans Africa's biggest dam

afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.



front page | news | countries | archive | currencies | news alerts login | about afrol News | contact | advertise | español 

©  afrol News. Reproducing or buying afrol News' articles.

   You can contact us at mail@afrol.com