Congratulations !
Congratulations to YBP: Paid-Up Capital Reaches 400 Million Birr!
[Addis Ababa, April 4, 2024] — We are thrilled to announce that Yetebaberut Beherawi Petroleum S.C. (YBP) has achieved a significant milestone. Our paid-up capital now stands at an impressive 400 million Birr.
Phase 5 Construction of Finishing Work B+G+4+T at Ayer Tena B+G+4+T Bidders
Date September 25, 2023
Ref:-YBP /081/23
To:- Phase 5 Construction of Finishing Work B+G+4+T at Ayertena B+G+4+T Bidders
Subject: – Change of Bid Opening Date and Bid Security Amount for Phase 5 Construction of Finishing Work B+G+4+T at Ayertena B+G+4+T Building
Greetings,
We would like to inform you that YBP S.C. has advertised the phase 5 construction of finishing work B+G+4+T at Ayertena B+G+4+T building on September 17, 2023 on reporter newspaper. However, due to Meskel & Mewlid holidays and Ethiopian Federal Public procurement directive, we have decided to change the bid opening date and also considering Ethiopian Federal Public procurement directive we change bid security amount as follows:
Bidders must provide a photocopy of their current and valid business license.
Bidders must submit one original and one copy of their technical and financial proposals. The technical proposal should be in a separate envelope from the financial proposal and bid security. Both envelopes should be placed in a sealed outer envelope.
Bidders should label their offer as “PHASE 5, CONSTRACTION OF FINISHING WORK B+G+4+T AT AYERTENA B+G+4+T BUILDING” on the sealed outer envelope.
Bidders should submit their offer to the address below by October 05, 2023, before 2:00 PM. Any late bids will not be considered.
Bidders must include a bid security of 500,000.00 (Five Hundred Thousand Birr) in the form of CPO/Bank Guarantee that is valid for at least 120 (One hundred twenty days) after October 05, 2023.
The technical proposals will be opened in the presence of bidders or their authorized representatives on October 05, 2023 at 2:30 PM.
Yetebaberut Beherawi Petroleum S.C. reserves the right to accept or reject any or all bids.
We appreciate your interest and participation in this bidding process.
Sincerely,
Belachew Berhanu
Engineering Head
INVITATION FOR BID
INVITATION FOR BID
YBP SC is locally originated Petroleum Company in distribution of fuel, Oil and LPG to customer. It intends to build a full-fledged B+G+4+T at Addis Ababa site.
Yetebaberut Beherawi Petroleum (YBP) invites all interested and eligible bidders to participate for CONSTRUCTION OF FINISHING WORK b+g+4+T and car wash as per the following commitment to bidders. This tender is for phase 5 comprising Civil, Electromechanical and Steel structure works.
Interested bidders with category only BC-6 can collect the bid documents from our Head Office with the address specified below upon payment of non-refundable birr 300.00 (Three hundred birr) from the date of issuance of the bid.
- Bidders must submit photocopy of currently renewed and valid business license.
- Bidders shall submit one original as well as one copy of technical and financial proposals. The technical proposal should be submitted in one envelope whereas the financial proposal and bid security should be submitted in a separate envelope. These two envelops should then be placed in a sealed outer envelope.
- Bidders should submit their offer in a sealed envelope marked “PHASE 5, CONSTRUCTION OF FINISHING WORK b+g+4+T at ayertena b+g+4+t”
- All bids must be submitted to address below effective September 28/2023 before 2:00PM. Late bids will not be considered.
- All bidders must be accompanied by a bid security of 2% of the total bid amount accompanied with CPO/Bank Guarantee valid for at least 120 (one hundred twenty days) days after September 28/2023.
- Technical proposals of the bidders will be opened in the presence of bidders or their legal representatives on September 28/2023 at 2:30PM.
- Yetebaberut Beherawi Petroleum S.C. reserves the right to accept or reject any or all bids.
Address for YBP head office: Mikileland Street, road from Wuhalimat to Atlas hotel, Addis Ababa Ethiopia. Tel:- +251 116 63 85 77/80
Latest News
Modjo Depot Tank-2 is a petroleum storage tank with a diameter of 12.5 meters and a height of 6 meters. It has a volume of 750,000 liters and is designed by Punto Consulting Architecture & Engineers. The tank was constructed by PASQUA GIUSEPPE PLC for Yetebaberut Beherawi Petroleum S.C. (YBP S.C.). The product type stored in the tank is AGO. The construction of the tank began on January 24, 2023, and was completed on June 26, 2023. The inauguration date was on July 17, 2023, in the presence of board members, staffs, stakeholders & governmental authorities.
By Belachew Berhanu , July 19/2023
National Green Development program
Ethiopia launched National Green Development program in 2023, which aims to combat climate change and environmental degradation . Under this program, Ethiopia planned to plant more than 500 billion trees on 1.5 million hectares across the country (https://pmo.gov.et/greenlegacy/).
Mr. Haileleul Olana, chairman of the Board of Directors (BoD) of the company
Oldest News
Local Oil Company hit by hard currency shortage
Yetebaberut Beherawi Petroleum S.C., a local oil company founded predominantly by oil transporter companies more than 15 years ago, expressed its frustrations over the lack of access to hard currency needed to import oil products in to the country, making it difficult to operate its main line of business in the past two years, and threatening its existence, The Reporter has learnt.
According to Haileleul Olana, chairman of the Board of Directors (BoD) of the company, Commercial Bank of Ethiopia (CBE) used to avail USD five to seven million annually, for oil products. However, in the past two years, accessing currency for oil-product importers has become a nightmare; and this year, for instance, the company was only allowed to receive USD 200,000.
Haileleul said oil products are among the priority commodities that the government has given exclusive access to in terms of hard currency. However, in recent times, the company is unable to access much needed hard currency. “We never had this difficulty before. It started happening only in the past two years; and this year, we were told we will have access only to USD 200,000, which we can’t understand,” Haileleul said. The chairperson also revealed that numerous appeals have been made to respective authorities. Appeals to the management and the Board of CBE, to the governor of the National Bank of Ethiopia (NBE) and to its Board chairperson, and all the way to the Ministry of Trade and Industry; but none have resulted in conclusive outcomes.
On average, one liter of oil product could cost around USD two. Hence, USD five million could have helped to purchase some 2.5 million liters. However, with the dwindling foreign currency access, Yetebaberut was given only USD 200,000. Its imports have considerably reduced to 100,000 liters of products. The company said it requires USD eight to 10 million to be able to have a positive and profitable business.
The import of oil products is associated with the least attractive profit margins of the oil distribution sector in Ethiopia. Currently, in addition to Yetebaberut, National Oil Company (NOC), Total and OiLibya vie for the petroleum distribution business in the country through imports of oil products.
Accessing private banks for hard currency, according to Haileleul, has one potential disadvantage. “They require us to deposit as much as 300 percent in local currency against the amount of hard currency we asked for; and we can’t afford that,” he said stressing that his company could not afford such large amount of liquidity. Efforts to include comments from CBE bore no fruit as of press time.
Established in 2004, Yetebaberut Petroleum was able to stretch across the country with 130 gas stations. With its depot under construction, the total worth of its assets currently is estimated to be around one billion birr. With an authorized capital of 400 million birr, Yetebaberut has managed to increase its paid-up capital to 267 million birr. Currently, Yetebaberut is an exclusive distributor of BP and Castrol oils in Ethiopia, Djibouti and South Sudan.