The Ethiopian Petroleum Supply Enterprise (EPSE) plans to import three million metric tons of petroleum in the coming budget year, the Capital reported.

EPSE said on average, oil demand is increasing by 10 percent yearly.

Tadesse Hailemariam, CEO of EPSE, told Capital to meet the growing demand, EPSE will raise its import petroleum by 7.14% in the 2015/16 budget year.

EPSE imported 2.8 metric tons of oil in the 2014/15 budget year, with 59 billion Birr cost, Tadesse stated.
EPSE is in charge of buying oil from international market. Sudan is the sole supplier of petrol fuel, after a deal has been sealed between the two countries.

EPSE is formed in 2012 through the fuse of Ethiopian Petroleum Enterprise and National Petroleum Depot Administration. EPSE is also the sole petroleum importer of Ethiopia.

Source: Capital