tesfanews.nethttp://www.tesfanews.net/archives/8864
Chinese PetroTrans Quits Ethiopian Oil and Gas Exploration

CEO John Chin and Minister of mines Sinkinesh Ejigu. (We kicked you because we didn’t like the color of your eyes… Lol)
By TesfaNews,

The number of foreign mining and exploration companies that cut and pack their investment in Ethiopia are growing in recent months citing different reasons.

Companies like Maxus and ZPEG, that were working on oil and gas explorations in the Ogden region have pulled entirely out of the country following the killing of dozens of its workers during a raid by the rebel group operating in the area.

Last year the Malaysian Company Petronas quits its oil exploration activity in Ethiopia after spending over $350m.

BHP, one of the leading potash producer companies in the world, recently abandons its potash project in the Afar region after investing over $80m on exploration works. Sources closer to the company cited higher exploration costs, security threats, unfavorable honey-coated investment policies together with the unmatched competition they would met from the well advanced, world-class Colluli Potash deposit in neighboring Eritrea as the main reasons for the quit.

On top of such uneasiness, the Ethiopian ministry of Mines last week announced revoking of 11 petroleum and mineral exploration licenses besides halting the issuance of any mineral exploration licenses altogether.

One of the major companies that have been affected by the decision and kicked out of the country was the Hong Kong based oil and gas giant, PetroTrans Company Ltd that has been investing heavily in the last few years on the dangerous and greatly risky region of the Ogaden basin.

Donia Beijing Resource, a gold explorer company operating in Tigray region is not spared by the sweeping, blind fold decision.

Dismayed by the sudden change of heart by the ministry, PetroTrans urges the ministry to revisit its decisions or face the matter at the International Tribunal Courts. It also warns that no other company will have the right to operate at Calub and Ilalla fields, which PetroTrans invested million of dollars for exploration and other related works. Sources in Ethiopia reveals that the company pays close to $11m for a non-refundable signature bonus alone.

Such unwarranted turn of events in the country’s mining industry and the developing political uncertainty further tarnish the country’s image and scares away existing and/or new potential investment in the sector.

Presently, the country only survives with a handful of artisanal miners and MIDROC Gold, the only modern large scale gold mining company.

tesfanews.nethttp://www.tesfanews.net/archives/8864
Chinese PetroTrans Quits Ethiopian Oil and Gas Exploration

CEO John Chin and Minister of mines Sinkinesh Ejigu. (We kicked you because we didn’t like the color of your eyes… Lol)
By TesfaNews,

The number of foreign mining and exploration companies that cut and pack their investment in Ethiopia are growing in recent months citing different reasons.

Companies like Maxus and ZPEG, that were working on oil and gas explorations in the Ogden region have pulled entirely out of the country following the killing of dozens of its workers during a raid by the rebel group operating in the area.

Last year the Malaysian Company Petronas quits its oil exploration activity in Ethiopia after spending over $350m.

BHP, one of the leading potash producer companies in the world, recently abandons its potash project in the Afar region after investing over $80m on exploration works. Sources closer to the company cited higher exploration costs, security threats, unfavorable honey-coated investment policies together with the unmatched competition they would met from the well advanced, world-class Colluli Potash deposit in neighboring Eritrea as the main reasons for the quit.

On top of such uneasiness, the Ethiopian ministry of Mines last week announced revoking of 11 petroleum and mineral exploration licenses besides halting the issuance of any mineral exploration licenses altogether.

One of the major companies that have been affected by the decision and kicked out of the country was the Hong Kong based oil and gas giant, PetroTrans Company Ltd that has been investing heavily in the last few years on the dangerous and greatly risky region of the Ogaden basin.

Donia Beijing Resource, a gold explorer company operating in Tigray region is not spared by the sweeping, blind fold decision.

Dismayed by the sudden change of heart by the ministry, PetroTrans urges the ministry to revisit its decisions or face the matter at the International Tribunal Courts. It also warns that no other company will have the right to operate at Calub and Ilalla fields, which PetroTrans invested million of dollars for exploration and other related works. Sources in Ethiopia reveals that the company pays close to $11m for a non-refundable signature bonus alone.

Such unwarranted turn of events in the country’s mining industry and the developing political uncertainty further tarnish the country’s image and scares away existing and/or new potential investment in the sector.

Presently, the country only survives with a handful of artisanal miners and MIDROC Gold, the only modern large scale gold mining company.

ras,
This may not be a bad move for the true Ethiopians who are doing the walking as opposed to those cyber warriors who are good only ontalking. You see there twoo reasons mto celebrate about the story that you posted:
1) No true and genuine Ethiopian wants the products of Ethiopia get abused by the Weyane monkeys.
2) Ethiopians would rather get the fruit of their country when they have a representative and inclusive government , who is not a subservient to any foreign intersts.
Guess what? The day of reckoning is coming at faster speed than a supersonic flight. Then, inshalah, our Ethiopian brothets and sisters would feast on the enviable natural abundance their country has to offer!

Alamoudi will run out soon. His friend is dead. He has no one around. Alamoudi is getting old. He is thinking to go back to religion. He worries all the prostitution he has done and the crimes he committed with Meles- stealing, robbing, abusing girls. When he sees what God has done to Meles, he fears the wrath of God is going to be on him next.

ras,
This may not be a bad move for the true Ethiopians who are doing the walking as opposed to those cyber warriors who are good only ontalking. You see there twoo reasons mto celebrate about the story that you posted:
1) No true and genuine Ethiopian wants the products of Ethiopia get abused by the Weyane monkeys.
2) Ethiopians would rather get the fruit of their country when they have a representative and inclusive government , who is not a subservient to any foreign intersts.
Guess what? The day of reckoning is coming at faster speed than a supersonic flight. Then, inshalah, our Ethiopian brothets and sisters would feast on the enviable natural abundance their country has to offer![/quote]


What a beautifully put remark.

I can't add to it

This may not be a bad move for the true Ethiopians who are doing the walking as opposed to those cyber warriors who are good only ontalking.!

OJ , Chilo, Jilu, L!stro,

I believe he is talking about you.

This may not be a bad move for the true Ethiopians who are doing the walking as opposed to those cyber warriors who are good only ontalking.!

OJ , Chilo, Jilu, L!stro,

I believe he is talking about you.

የባንዳ ፈስ, Any body who is kissing azzez of any Weyane govt is a sell out banda. Alamamudi is your sugar daddy. you defend and support him because he screwed your tiny Weyane monkey azz ፎር ጉድ. That is the the truth.
ሆዳም ትግሬ -ብትሞት ይሻሻላል

How will Ethiopia be repaid if it was found that he took advantage above and beyond what is customery i.e. corruption etc...?

This may not be a bad move for the true Ethiopians who are doing the walking as opposed to those cyber warriors who are good only ontalking.!

OJ , Chilo, Jilu, L!stro,

I believe he is talking about you.

Alamamudi

OJ, Chilo, Jilu, mamo kilo, l!stro, pot head, the village idiot,

please learn how to spell the your master's name.....shoe shine boy.

OJ, Chilo, Jilu, mamo kilo, l!stro, pot head, the village idiot,

please learn how to spell the your master's name.....shoe shine boy.

ፕሮፌሰር የባንዳ ፈስ-
Do you think I really care whether I spell his name right? Listen you sobmf, he is a blood [deleted] wyeane Monkey. He better go home where he belongs.

Woyanes earn 5% royalty from mining companies owned by Al-amoudi who rakes in 95% of the profit and made himself the wealthiest dark-skinned Arab in the world.