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ECONOMY-FINANCE

Facts About Kenya's Turkana Oil

The oil in Turkana was discovered back in 2012 after years of search, it is believed that the oil reserve has around 600 million barrels of oil which can be drilled for a total of 25 years and hence greatly boost Kenya's economy and also help develop the northern region.

  28 days ago ago
Facts About Kenya's Turkana Oil

ECONOMY-FINANCE

Turkana Oil Needs 373 Billion to be Fully Drilled Out And Exported

Despite the fact that the fuel price in Kenya is currently very high, the country has one of the largest oil reserves in East Africa which is located in Turkana, the oil reserve was first discovered in 2012 by Tullow which is a British based oil company. Tullow has released a 373 billion Kenya shillings budget which will see the Turkana oil fully drilled out and exported or even used locally, the budget includes a oil pipeline which will be constructed from the Ngamia oil fields to a refinery station which will be constructed in the Lamu port.

  2 months ago ago
Turkana Oil Needs 373 Billion to be Fully Drilled Out And Exported

ECONOMY-FINANCE

Newspaper Headlines Display: Battle Royale For BBI Start And Other Making Stories

Africa-focused Tullow Oil said on Wednesday its chairperson Dorothy Thompson would step down at the end of the summer after nearly three years in the role and the company is looking for a replacement. Thompson, one of only a handful of women chairing a London-listed company, said it was the right time for her to step back after Tullow last month emerged from a financial overhaul with a $1.8 billion bond and a new business plan under top boss Rahul Dhir.

  6 months ago ago
Newspaper Headlines Display: Battle Royale For BBI Start And Other Making Stories

BUSINESS

Can't Pay Won't Pay, Kenyan Government Refuses to Pay Ksh200 Billion Oil Bill

Kenyan government has been left in a shock after British oil explorer Tullow Oil slapped them with 204 billion fees as payment for the six years it has been in operation at the Turkana oilfields. The British firm has been in operation in Kenya’s largest county since 2014 when they were contracted to explore oil in the county. After six years of exploring the oil that is expected to go on sale in 2022, the company has demanded for a fee the government of Kenya didn’t anticipate and the matter could now d

  1 year ago ago
Can't Pay Won't Pay, Kenyan Government Refuses to Pay Ksh200 Billion Oil Bill

BUSINESS

Do You Remember Petroleum Discovery in Turkana? This is When Kenya Will Start Harvesting Billions

Kenyans were a happy lot after an earlier report emerged that petroleum had been discovered in Turkana. This is because apart from cutting the cost of the country importing oil from middle East other nations, the discovery could also provide jobs to most unemployed youths in the country. However, Kenyans have to wait longer until after 2025 for petroleum dollars to start trickling from Turkana oil fields because the Government has extended the exploration timeline to a British explorer. Breaking the news, the

  1 year ago ago
Do You Remember Petroleum Discovery in Turkana? This is When Kenya Will Start Harvesting Billions

COVID

Hon. John Munyes Rubishes Claims About Tullow Exiting From Oil Consortium

Petroleum and Mining Cabinet Secretary Hon. John Munyes has rubished Claims from Individuals who claim that the Tullow Oil has been withdrawn from the Country. He stated that the Oil exploration is still ongoing ans and if Tullow wishes to Withdraw from the Partnership, it would actually sell it's own Shares to another Company of its own Choice. He went further to explain that the Government is aiming higher to set up Plans for the Oil exploration process between 2022 and 2023, and currently the Oil product

  1 year ago ago
Hon. John Munyes Rubishes Claims About Tullow Exiting From Oil Consortium