According to the Ethiopian investment laws any investor can engage in the areas of lubricant and petroleum oil business, with a very little reservation. These areas of investment open for foreigners also. i.e any foreigners who want to invest either wholly or in partnership with domestic investors can engage in the above areas of investment. However in the area of petroleum only the distribution of the petroleum oil is permitted. The importing of petroleum oil is specifically given to the Ethiopian Petroleum Agency. However the import and distribution of petroleum oil is free to engage for any foreign or local investor.
If the investment is wholly owned by the foreign investor, 100,000.00 USD is required but if it is in partnership with domestic investors 60,000.00 USD is required as a minimum capital. This is the minimum capital required to engage in the above areas.
In addition to this there are also some technical requirements stated by the Ethiopian Petroleum Agency, like opening at least two fuel stations and having a minimum of 500mcl tanker in each of these stations. Every investor must fulfill these requirements in order to invest in the areas of lubricants and petroleum oil import and distribution.
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