Sat. Jun 22nd, 2024

Ethiopia revokes Chinese Poly GCL natural gas production license

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The Government of Ethiopia today announced that it has revoked natural gas and crude oil exploration and production license of the Chinese company, Poly GCL registered in the tax haven – British virgin island.

As of yesterday, we have suspended their licenses for exploration and production of natural gas and crude oil in Ethiopia,” said Eng. Takele Uma was the Minister of Mines in Ethiopia who briefed journalists.
According to Eng., Poly GCL had not been able meet all the requirements for finance and technology to begin production of natural gas according to the Government of Ethiopia. Takele.

According to Eng., if the company can fulfill tomorrow’s expectations of the people of Ethiopia and Government of Ethiopia in order to develop natural gas resources of the country, it is still welcome. Takele.

The Minister stated, “Poly GCL was not able fully operational to meet all requirements. This despite the fact that the Government of Ethiopia had been trying to help it.”

“…This morning also we have also been in discussion with the company (Poly GCL) explaining why we revoked their license,” he said. “Even though the Government of Ethiopia has shown the patience in supporting them, meanwhile it can’t continue with such patient for many years,” he said, indicating that the measure taken by the Government of Ethiopia will be a good lesson for all companies engaged in minerals development in any part of the country.

It is important to recall that June 2018 was a record year. Poly GCL has commenced test gas production around Ogaden BasinIn the Eastern part of Ethiopia.

The Government of Ethiopia announced the same announcement a few weeks back Completed its natural gas reserve analysisEng. was launched by a joint U.S.-Dutch company. Takele expressed his Government’s readiness to welcome a U.S. company interested in developing the natural gas and crude oil of Ethiopia.

Source: newbusinessethiopia

By Chala Dandessa

I am Lecturer, Researcher and Freelancer. I am the founder and Editor at ETHIOPIANS TODAY website. If you have any comment use caalaadd2@gmail.com as email contact. Additionally you can contact us through the contact page of www.ethiopianstoday.com.

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