Kenya’s President launched exports from the Turkana oil fields
On 2 June exports began from Kenya’s Turkana oil fields, launched by President Uhuru Kenyatta as he waved the nation’s flag.
The President has claimed that every Kenyan will benefit from the proceeds of the exported crude oil.
The country aims for the oil to diversify its exports, as well as boost hard currency and making imports more affordable.
“We will ensure every Kenyan has benefited from the oil,” President Kenyatta stated as the launch.
“My Government will therefore focus on the development of our oil and gas sectors for the betterment of the economy and people,” he added.
Kenyans could purchase Turkana oil blocks in initial public offering
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Four trucks left Ngamia Eight in the Turkana oil fields, loaded with oil in the direction of Mombasa’s sea port.
Each of the transportation trucks has the capacity for 150 barrels of oil, with 110 trucks expected to move approximately 2,000 barrels per day.
The oil will be stored at the defunct refinery, until 400,000 barrels have been collected to fill the oil tanker.
The day marked the launch of the Early Oil Pilot Scheme (EOPS) that was introduced last year.
The scheme aims to evaluate global supply logistics to create the price of the Turkana oil.
“This is high quality oil and we expect it to trade well in the global market,” remarked Paul McDade, CEO of Tullow Group.
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