Dalol Oil is set to enter the Ethiopian market to distribute fuel and lubricants after finalizing the process with Ministry of Trade, Ethiopia. 
The domestic oil company signed an agreement with the Ethiopian Petroleum Enterprise to obtain its operational permit and launch services.
Esayas Yeyesuwork Chief Executive Officer of Dalol signed an agreement with Yigzaw Mekonnen, Director General Imports and Distribution of Ethiopian Petroleum Enterprise signed the agreement after the Ministry of Trade gave its final approval.
The company is expected to launch a minimum of two stations in six months as part of the conditions set by the MoT.Dalol Oil has planned becoming fully operational this financial year but was delayed due to a misunderstanding of regulations applying to companies in the oil sector.
The Ministry of Trade required the oil company to construct a 500,000 liter depot and a minimum of two filling stations and issued the license on the condition that the company finalize the construction of the depot and filling stations over the next six months according to Nuredin Mohammed, Head of Registration and Licensing at the MoT.
Dalol has accomplished 70% of the work on its depot with an 11.6 million birr according to Esayas.
The company plans to establish 10 stations by the end of this year he said.
Executives from Dalol are in the process of negotiations with Exxon Mobil, the largest oil refiner in the world according to sources with the company.
Source: Addis Fortune
