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Common front for non-oil producers
By Abiy Demilew
To address the current soaring international oil price, and to raise Africa’s profile, an initiative to form the Organisation of Non -Oil Producing Countries (ONOPC) has officially been introduced here in Addis, Thursday, July 10, 2008, by the Ambassador of the Republic of Mauritius to Ethiopia, AU, UNECA, Ambassador to Kenya and Uganda, Mr. Premduth Doongoor.
The Ambassador also reflected that on the realization of this initiative, Prime Minister Meles Zenawi might chair the new organization, which stands as a protective counter balance to OPEC.
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OiLibya buys Shell
By Groum Abate
Libya’s oil giant, OiLibya, has formally entered the Ethiopian market after signing an agreement to acquire 100% of oil giant, Shell Petroleum Ethiopia and Djibouti Ltd.
OiLibya, effective Thursday July 10, 2008 acquired Shell Ethiopia and Djibouti Ltd. shares and would start rebranding Shell outlets in both countries in the coming weeks.
Shell Ethiopia, whose market share had once reached over 50%, currently commands less than 30%. The reason for the decline of the company’s market influence is its hesitancy to compete in bulk oil and oil product supply tenders of late, after the company conducted an aspired portfolio review in October 2007 for the exit strategy from the downstream business of retailing its products.
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PM appoints director general for newly set up maritime authority
By Tedla Yeneakal
Prime Minister Meles Zenawi has appointed Ephrem Tufer, 55, who was serving as Department Head of Port Utilization & Transit Affairs at the Ministry of Trade and Industry for the last five years, to lead the newly set up Maritime Affairs Authority, effective as of Wednesday, July 2, 2008, reads the appointment letter signed by the Prime Minister.
The need for establishing an independent authority to administer the Maritime sector came about last year after it was declared in proclamation no. 549/2007 with the view to using modern means and techniques to administer dry ports, marine transport multimodal transport services, making use of inland water ways for transportation and other maritime services.
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