Oil Giant Eyes Non-Fuel Businesses

Libya Oil Ethiopia is tapping into side businesses as profit margins from fuel supply and retail in Ethiopia stagnate. With fuel companies discouraged, “we are focusing on partnerships with local banks and international food chains. Our target is to offer full packages with one-stop services at our fuel stations, in addition to fuel,” said Chokri Dridi, General Manager of Libya Oil Ethiopia Limited, which has over 160 petroleum stations across Ethiopia.

The company has also signed an agreement with Canal Plus, the French-based paid television company which entered the Ethiopian market five months ago. The agreement, which enables subscribers to pay subscription fees at OiLibya stations, was signed on September 7, 2021, at the Hyatt Regency hotel in Addis Ababa.

“The Ethiopian market has been highly receptive of Canal Plus thus far,” said Teodros Abraham, CEO of Bruh Entertainment, Canal Plus’ local representative and content distributor. “We are planning for local content production, especially suited to kids.”