Ethiopia Will Be Spending 80% of Its Foreign Currency Reserve For Petroleum Import

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In the year 2018 Ethiopia will be importing 3.8 million petroleum  metric ton which is a 13% increase compared to previous year. According to the Ethiopian Petroleum Supply Enterprise the country will be importing 407,378 Metric Tons Benzene,2,546,786 Metric Tons ,661,790 Metric Tons Jet Fuel,124,914 Metric Kerosene,38,805 Light Virgin Naphtha and 39,470 Metric Tons Heavy Virgin Naphtha.

Ethiopia will be spending 80% (2.8 billion dollar) of its foreign currency to buy 3.8 million metric ton of petroleum. Looking  at the percentage versus the type of petroleum the country imports (Naphtha 65%,Benzene 10%,Jet Fuel 17%,Light Virgin Naphtha 3% and Heavy Virgin Naphtha 5%.)

The country imports 50% Naphtha,100% Jet Fuel and Light Virgin Naphtha from Kuwait Petroleum Corporation. While Sudan Petroleum Corporation provides 40% of the Benzene.

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