Yigzaw Mekonnen is to be the new General Manager of Yetebaberut Beherawi Petroleum after resigning from his post as Managing Director of the Ethiopian Petroleum Enterprise.
Yigzaw has been with EPE since he joined the Asseb Refinery in Eritrea two years after graduating from the Engineering Department of Addis Ababa University. He went to do a Master’s Degree in Management from the Open University of London.
Yigzaw is leaving the enterprise at a time when it is restructuring to merge with the National Petroleum Depot Administration. Mekonnen Teshome, a senior manager at NPDA will temporarily take over from Yigzaw it was learned.
The new GM will be an asset for YBP and the various project that the company is planning as he is familiar with the ins and outs of the sector said Tsega Asamere, Board Chairman of the Petroleum retailer.Yetebaberut was established in 2004 by a consortium of Ethiopian investors who had been previously active in the oil transport sector. The company declared net profits of 18.7 million birr in the 2010-11 financial year which showed a 49% increase from the previous year. The retailer currently operates 90 petroleum filling stations across the country.
In related news The Council of Minister has approved the launch of the merger between the Ethiopian Petroleum Enterprise and the National Petroleum Depot Administration to form the new Ethiopian Petroleum Supplier Enterprise.
The merger will not affect the job description of the two enterprises but will allow for more coordination amongst them and an efficient use of resources according to sources.
Source: Addis Fortune
