Oil and Natural Gas
Ethiopia has small reserves of oil and natural gas. As of January 2003, the country's crude oil and natural gas reserves were placed at 428,000 barrels (68,000 m3) and 880 billion cubic feet (2.5×1010 m3), respectively. Ethiopia has no crude oil refining capacity and must import all refined petroleum products. Imports of refined petroleum products totaled 24,910 barrels per day (3,960 m3/d), with consumption was an estimated 23,000 barrels per day (3,700 m3/d) in 2001. In 1997, due to high maintenance and operating costs, Eritrea and Ethiopia agreed to shut down their joint operations at the petroleum refinery at Assab and import refined petroleum products. In 2001, Ethiopia signed an agreement to import petroleum products from Sudan, which began in January 2003. Although Ethiopia has few proven hydrocarbon reserves, it is estimated to have considerable potential for oil and gas exploration.
Read more about this topic: Energy In Ethiopia
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