Business
Kenya sells first crude oil to UK-based Chinese company : The Standard
Kenya is set to export its first crude oil after the government and a group led by explorer Tullow Oil picked trading company ChemChina UK Ltd to buy its first shipments, the Petroleum and Mining Ministry said.
“ChemChina UK Ltd has been selected as the buyer for Kenya’s first crude oil exports,” Petroleum Principal Secretary Andrew Kamau said in a statement on Thursday. He did not give details on when shipments would commence.
Tullow and its partner Africa Oil discovered commercial oil reserves in the Lokichar basin in Kenya’s far northern county of Turkana in 2012. Total has since taken a 25 per cent stake in the project.
Since last year the group has been running a pilot scheme to transport some 2,000 barrels per day by truck to the port city of Mombasa to test flow rates and other technical issues before the start of full production and exports via a pipeline, to be built by 2022.
SEE ALSO :Activists urge banks not to finance Ugandan oil pipeline
ChemChina UK’s initial purchases are expected to be small-scale, with full commercial shipments due to begin once the pipeline is constructed.
Tullow estimates that Kenya’s onshore fields in Turkana hold 560 million barrels of oil and expects them to produce up to 100,000 barrels per day from 2022.
The government received eight bids from international firms representing European and Asian refineries after it issued the tender to buy the oil on July 26, Kamau said, describing the response as “strong”.
President Uhuru Kenyatta said earlier this month that Kenya had secured a buyer for 200,000 barrels of crude oil worth Sh1.2 billion, though he did not give further details at that time.
“We are now an oil exporter. Our first deal was concluded this afternoon with 200,000 barrels at a price of 12 million US dollars. So, I think we have started the journey and it is up to us to ensure that those resources are put to the best use to make our country both prosperous and to ensure we eliminate poverty,” President Uhuru said.
SEE ALSO :Tullow Oil’s Kenyan, Ugandan projects timelines slip
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Related Topics
– Zari did not reveal the man’s face but fans concluded it was her King Bae
– She shared a photo showing off her hand resting on top of the man’s well-toned chest
– Quite a number of people who saw the photo believe her King Bae is her South African manager Galston
Diamond Platinumz’s ex-wife Zari Hassan has sparked mixed reactions online after sharing a photo of herself in bed with King Bae.
The mother of five on Thursday, December 12, posted a photo of her hand resting on top of a man’s chest.
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Judging by the photo, which she shared on her Instagram status update, it is clear the two had just finished twa twa and were resting or vice versa.
The intimate bedroom photo came at a time when the socialite had taken a break from posting a series of King Bae’s photos.
As usual, Zari did not reveal her man’s face in a move that kept her fans guessing, with many insinuating King Bae could be her South African manager Galston.
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While some people through their different social media accounts gushed over the two for serving relationship goals, others thought Zari should not share such images owing to her advanced age.
It is important to note that this was not the first time Zari teased her social media fans with photos of her mystery man.
The socialite moved on to the next one with her King Bae after many months of staying single following her breakup with Diamond.
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Behind the scenes during Sonko’s in court | Tuko TV.
A statement from the National Treasury shows that 18 counties that showed acceptable plans to clear pending bills received reimbursements for November.
Acting Treasury CS, Ukur Yattani, says that the 18 counties received Ksh. 11 billion.
The counties include; Baringo, Bomet, Embu, Garissa, Isiolo, Kiambu, Kirinyaga, Kitui, Machakos, Meru, Migori, Mombasa, Nandi, Narok, Taita Taveta, Tana, Tharaka Nithi, Vihiga.
A further Ksh.7 billion was disbursed to 12 counties that had cleared their pending bills. These include; Elgeyo Marakwet, Homabay, Kajiado, Kericho, Kilifi, Kwale, Laikipia, Makueni, Nyamira, Nyandarua, Nyeri, Uasin Gishu.
Dalberg Advisors has announced the appointment of Edwin Macharia as Global Managing Partner for a 3-year term. Edwin term commences on 1 January 2020 and succeeds Yana Kakar who had been at the helm since 2013.
Prior to his appointment, Edwin has been with Dalberg for 11 years serving various roles. For instance, he founded Dalberg’s first office in East Africa in 2008, established Agriculture and Food Security Practice, and serves two terms as the Regional Director for Africa.
“Edwin has spearheaded a lot of innovation into the new business lines within the Group. That will serve him well as he steps forward to lead Dalberg’s biggest and longest-standing business” noted Henrik Skovby, Dalberg’s Founder.
Dalberg Advisors is a global consulting firm specializing in inclusive and sustainable business, policy, and investment strategy. Moreover, the firm combines strategy consulting, design thinking, big data analytics, and research to address complex social and environmental challenges.
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