BGP Geo Services plc announced collecting encouraging data from oil exploration in the South Omo Valley in Ethiopia. BGP delivered a significant seismic data report which indicated the presence of some oil according to sources at the Ministry of Mines.

The company will continue collecting seismic data over the next couple of months and drill areas for exploration wells will be determined on the interpretation of the data collected.

No exploration wells have been drilled so far in South Omo.

The World Bank has expressed an interest in financing the Halele-Werabesa Hydropower plant in Ethiopia. The bank is interested in fully financing the 700 million birr project according to, Guang Zen Chen World Bank Country Director for Ethiopia.

The Ethiopian Electric and Power Corporation will submit a proposal to secure the funding to the bank’s governing body after some discussions said Chen.

Experts from the World Bank carried out a field visit to the prospective site for the project and reviewed the feasibility study before submitting the application for financing.

Traditional artisan gold miners in Ethiopia have failed to meet expectations of output, over the last two quarters. Artisan miners have produced 3809kg of gold in the past two months which is 44% less than the targets set by the Ministry of Mines in Ethiopia.

The persistent decrease in price seen in the international market has discouraged miners according to Tamrat Mojo, Head of the Traditional Mines, Manufacturing, & Transactions Department of the Ministry of Mines.

The Ministry of Mines, Ethiopia, is to resume licensing for mineral exploration. The ministry is expected to begin accepting new applications for licensing in mineral exploration next month according to Sinkenesh Ejigu Ethiopian Minister of Mines.

It is to be remembered that the ministry halted the issue of new licensing in mineral exploration to evaluate operators already in the sector before issuing new permits.

It is expected that more than ten million power saving light bulbs imported in Ethiopia will save 176 MW of energy according to the Ministry of Water and Energy.

5 million previously imported power saving light bulbs have been able to save 88 MW of energy explained Bezuneh Tolcha, Public Relation and communication Director with the Ministry.

An additional 5 million bulbs imported last year are expected to raise the total amount of energy saved to 176 MW he said.