Dalol Oil S.C. disclosed it will start supplying alternative energy products for Ethiopia’s manufacturing sector by importing coal and petroleum coke (pet coke) this fiscal year.
The sole supplier of these two products in the Ethiopian market was National Oil Company (NOC) making Dalol only the second one to join the market.
Coal and pet coke are alternative energy sources for the manufacturing sectors which are used by cement factories and the like for the manufacturers require significant amount of energy in order to bring out their products to the market.
Dalol’s Chief Executive Director (CEO), Serkalem G/Kirstos, explained the company started importing bitumen/asphalt last fiscal year, in addition to the usual lubricant and petroleum (fuel) import.
Dalol joined the market two years ago. According to Capital, the industry dictates the first five years of a newly established firm is expected to be met by loss. Yet Dalol managed to make profit on the second fiscal year.
The CEO explained, products the company introduced in the past fiscal year played a major role in the company’s success.
The new products Dalol started supplying last year were supplied to Ethiopian Road Construction Corporation (ERCC), Addis Ababa City Roads Authority (AACRA) and Tidhar Group, an Israeli construction firm working in Ethiopia’s capital and some other parts of the country.
According to the Company’s annual report, the firm managed to supply 7,500 barrels (1,463 metric tons) of bitumen for its clients. In addition to this, the firm distributed 37.4 Million liters of petroleum.
Dalol’s lubricants are imported from a company based in Saudi Arabia, Saudi Arabia Petromin. In the last fiscal year the company supplied 206.7 Metric Tons of lubricants.
Dalol Oil S.C. is one of the four Ethiopian owned oil companies. Its paid up capital has currently reached 41.7 Million Birr while the subscribed shares amount to 64.1 Million Birr.
For the time being, there are 10 oil stations in Ethiopia that are operating under Dalol. According to the CEO, the management plans to take this figure to 15 by the end of this fiscal year.
Out of the ten oil stations, two of them are company owned dealer operated (CODO), meaning they are owned by Dalol yet operated by investors. The rest, eight oil stations, are controlled under a dealer owned dealer (DODO) arrangement or fully owned by investors.
Source: Capital
