Ethiopia began on Thursday its first-ever crude oil production under a test production scheme that will see initial production of 450 barrels of oil per day. Ethiopia, a rather large Continue Reading
Ethiopia is to start extracting the first ever natural gas deposit from Ethio-Somali Region as of tomorrow, The Reporter learnt. It is to be recalled that back in March, 2018, Continue Reading
The world’s longest river, a lifeline for hundreds of millions of people, is also fast becoming a fault line. Ethiopia’s ambitious $4.2 billion hydroelectric dam project on the Nile River’s Continue Reading
Chinese train driver Liu Ji (R) and his Ethiopian colleague Geto wave hands before the start of the first passenger train of the Addis Ababa-Djibouti railway in Addis Ababa, Ethiopia, Continue Reading
Leaders from Egypt, Ethiopia and Sudan have signed an agreement designed to assuage Egyptian worries over the construction of the Grand Ethiopian Renaissance Dam, Egyptian Streets reported Dec. 29. Egypt Continue Reading
ENLARGE Egyptian President Abdel Fattah Al Sisi, right, next to his Sudanese counterpart Omar Bashir during a welcoming ceremony in the Sudanese capital Khartoum on Monday. Photo: Agence France-Presse/Getty Images Egypt, Sudan and Ethiopia took a step Monday to defuse tensions around Ethiopia’s construction of a massive dam on the Blue Nile, which has threatened to upset the geopolitical balance in the region over how to share water from the River Nile. Egyptian President Abdel Fattah Al Sisi, Sudanese President Omar al-Bashir and Ethiopian Prime Minister Halemariam Desalegn signed a declaration in Sudan’s capital Khartoum, pledging to better share the Nile’s waters, an Egyptian presidency official familiar with the matter said. Ethiopia has said the project is necessary to produce much-needed electricity, but the building of the dam has been controversial, with some scientists predicting it could disrupt the flow of the river into Egypt, where it provides much […]
Ethiopia’s plans to build Africa’s largest hydroelectric dam on the Nile have sparked tensions with Egypt, which depends on the river to irrigate its arid land. But after years of tensions, an international agreement to share the Nile’s waters may be in sight. For thousands of years, Egyptians have depended on the waters of the Nile flowing out of the Ethiopian highlands and central Africa. It is the world’s longest river, passing through 11 countries, but without its waters the most downstream of those nations, Egypt, is a barren desert. So when, in 2011, Ethiopia began to build a giant hydroelectric dam across the river’s largest tributary, the Blue Nile, it looked like Egypt might carry out its long-standing threat to go to war to protect its lifeline. But last weekend, all appeared to change. Ministers from Egypt, Ethiopia, and Sudan agreed on the basis for a deal for […]
Ethiopian Water and Energy Minister Alemayehu Tegenu hailed Egypt’s decision to resume the three-way dialogue with Sudan and Ethiopia on the Renaissance Dam last August. He also applauded the positive atmosphere which prevailed in the two meetings, which were held in Khartoum in August and Addis Ababa in September. In statements on the sidelines of the second round of the tripartite national committee of the Ethiopian Renaissance Dam, currently in session in Cairo, Tegenu said that the outcome of the two studies recommended by the international experts committee should be based on authenticated and variable information and data in order to come up with unbiased recommendations and results. The project has been a source of concern for the Egyptian government since May 2013, when images of the dam’s construction stirred public anxiety about the possible effect on Egypt’s water supply from the Nile River. However, Ethiopia maintains that Egypt’s […]
ByKenan Machado A pedestrian walked past a pole hosting mangled electricity wires at a slum in New Delhi in 2009. Agence France-Presse/Getty Images MUMBAI—Investors are ploughing money into India’s energy sector again, betting that there are brighter days ahead as the country’s new government clears the path for power producers and distributors. India’s utilities and energy companies—which have struggled for years with high government restrictions and low returns—have attracted a total of $2.61 billion in investment so far this year, according to data from Dealogic. The last time the sector attracted so much money was before the global financial crisis, when $2.67 billion was invested over the same period in 2006. “People expect the economy to grow,” said Tan Cheng Guan, an executive vice president at Singapore utilities company Sembcorp Industries Ltd. which invested $204 million this year, buying stakes in two Indian power plants . India needs its power […]
Bloomberg News India’s government calls Oil & Natural Gas Corp. one of its "nine jewels," sparkling state-owned assets with brilliant potential. New Prime Minister Narendra Modi wants to sell part of these family jewels before he does anything to help realize that potential. The government, which owns more than two-thirds of ONGC, may float 5% of the shares sometime after October, according to officials this week. Last week’s Indian budget has aggressive targets for revenue, including for selling stakes in state firms that, in theory, investors would love to get a hold of. India’s largest energy producer by output is such a company, boasting low costs and low debt. Yet this crown jewel needs polish due to the country’s oil and gas subsidy programs, which saddles ONGC with huge costs. The […]
