The world's biggest oil company - the US-based Exxon Mobil - has won the latest bid issued for the country's fuel supply.

Exxon Mobil, the most frequent supplier of fuel to the country, re-enters Ethiopia's market after being successively beaten by other suppliers for the last two years.

The US giant oil company clinched the latest fuel supply deal from the Ethiopian Petroleum Enterprise (EPE) last week, outbidding five oil companies which contested for the supply.

The Kenya-based Kobil, which recently launched operation in Ethiopia, the Dubai-base FAL Oil, the Sweden-based Vitol and the Saudi Arabia-based Berki International were among the six oil companies contending for the supply.

Exxon Mobil won the latest fuel supply by offering the lowest premium prices, according to information obtained by The Reporter from EPE.

Accordingly, the US oil company will supply 915,000 tonnes of fuel during the second half of the fiscal year.

Berki International, which won the bid for the supply of fuel for the first half of the year, will supply a similar amount of fuel before its contract winds up.

About 1.8 million tonnes of fuel is projected to be consumed during the current fiscal year, which is expected to cost even more than the 10.8 billion birr earmarked initially, owing to the hike in crude oil prices.