New company has joined Ethiopia’s petroleum market to sell and distribute different petroleum products. The company’s name is Gomeju Oil Ethiopia and it owned by Tewodros Yeshiwas and Genet Gebreigzabher.

The company that has a registered capital of 53 million Birr, has already constructed 24 gas stations across Ethiopia. The first 2 gas stations are built in Tulu Dimtu town and Bishoftu cities, both in Oromia State.

Most of the company’s gas stations are located in Oromia, Amhara, Benishangul, Somali, Tigray and the Southern Nations, Nationalities and Peoples states. Speaking about the development, Gomeju’s co-founder and managing director, said the company built modern gas stations with large fuel storage capacity in Addis Ababa, Dukem, Mojjo, Dire Dawa, Kebribeya, Hawassa, Bahir Dar, Assosa, Mekelle and Gondar. “We want to bring a major change in the industry by delivering high-quality products and services. Our gas stations have the largest storage capacity in the country. If you take the one that we built in Bishoftu town, it can serve 17 vehicles at a time, and has a storage capacity of 900,000 liters of oil,” Tewodros furthered.

According to General Services Manager of the company, Alemtesay Habtemariam, Gomeju aims to resolve the distribution shortage noticed in the market. We want to fill in the gaps in fuel retail business. And we are delivering high-quality products and services,” Alemtsehay added.

Currently there are around 710,000 vehicles in Ethiopia, The Reporter read. Among these, 70 percent of them are found in Addis Ababa. However, there are only 100 gas stations in the capital cifty. The Ethiopian Petroleum Supply Enterprise admits that Addis Ababa as well as regional towns are underserved when it comes to the delivery of fuel.

Gomeju’s general manager is Yigezaw Mekonnen. He is the former chief executive officer of Ethiopian Petroleum Enterprise.

Source: The Reporter