Somalia commissions its first petroleum depot

tank

Somalia has commissioned the first petroleum storage facility since the collapse of the government.

The US$ 20 million depot was officially opened by President Hassan Sheikh Mohamud. This facility will be operated by a private investor and is expected to provide a stable petroleum supply for the country, which is  dependent on imported petrol.

The storage which is one of the largest investments in Somalia consists of seven tanks. Businesses and consumers in the country now expect the cost of the petroleum products in Somalia to stabilise.

The government has been lobbying for investments in the country after attaining relative peace in the capital, Mogadishu that has long been a soft target of al-Shabab insurgents.