Nation Finalizing Petroleum Policy

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Addis Ababa April 19/2019 Ethiopia is finalizing its first-ever petroleum policy for the coming fifteen years, according to Ministry of Mines and petroleum.

The policy gives general directions on the petroleum sector, starting from exploitation of petroleum to importing and consumption at national level, it was learned.

The draft policy was tabled today for discussion with civic societies and political parties at a half-day consultative meeting.

Ethiopian Extractive Industry Transparent Initiative Head, Merga Kenea said the policy is prepared to lead the sector with clear directives.

It will also help investors and companies that have interest to engage in petroleum sector, he added.

Besides, the policy will be a reference to the amendments of proclamations, regulations and other programs on the petroleum sector.

Merga stressed that “the policy will be a tool that can show us our futurity, the place and the position where we will be in the coming years with regard to our petroleum initiative.”

Policy consultant Takele Worqeye said the absence of petroleum policy has negatively affected the sector.

“We have petroleum proclamation, but lack policy. That is why we are striving to have our policy to set the way for full realization of the proclamation,” the consultant added.

According to him, a petroleum policy is necessary as the country is seeing hopes of exploiting petroleum.

Takele noted that the policy will also make the petroleum sector bring economic transformation to the country by serving as input for industrialization.

Substituting import of petroleum, enhancing the sector, and identifying ways that make communities  around the exploiting sites are also among the things included in the policy.

Takele  pointed out that the main objective of the discussion was to gather possible inputs from stakeholders, especially the civic societies and the political parties as they represent huge number of people.