State signs deal to export crude oil worth Sh1.2b
Kenya has now joined the league of oil exporting countries after the government signed a deal to export crude oil worth about Sh1.2 billion ($12 million).
President Uhuru Kenyatta, while chairing his first Cabinet meeting in as many days, said yesterday that the first 200,000 barrels of the crude oil will be exported through the Port of Mombasa.
“We are now an oil exporter. Our first deal was concluded this afternoon with 200,000 barrels at a price of $12 million,” President Uhuru said.
The value of the oil stocks is based on the international crude oil prices of about $63 (Sh6,500) per barrel.
The early exports will be used to test the international markets’ reception to Kenya’s low-sulphur oil ahead of commercial production that is estimated to start in the second half of 2023.
The 200,000 barrels of crude oil from Turkana have already been transported to the Kenya Petroleum Refineries Limited storage facilities in Mombasa by London-based Tullow Oil, which has the exploration and oil fields rights.
Speaking when he chaired the first Cabinet meeting in as many months in the wake of the growing rift within the ruling Jubilee Party yesterday at State House Nairobi, President Uhuru said its upon the country to ensure the resources from the oil are used to benefit Kenyans.
“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,” he said.
At the same time, the President has assured Kenyans that the government will step up interventions to contain the growing cases of cancer-related deaths in the country.
This coming in the wake of the death of Bomet Governor Joyce Laboso and Kibra MP Ken Okoth among many other poor Kenyans.
He said the government is working with partners, to put in place interventions that will help ease the burden of the cancer disease on Kenyans.
“We need to see what more we can do to assist both in prevention but also in treatment of the disease. And we need to do that as a government together with the county governments,” President Uhuru said.
“This is an issue that we need to take more seriously and galvanise all of us to come up with a solution both in preventive — which is most important — but also in helping fellow Kenyans to get treatment, and get it early for those already affected by the disease,” the Head of State added.
The President, who led the Cabinet in a moment of silence in honour of the two leaders, acknowledged that cancer is fast becoming a crisis that needs urgent action.
There has been mounting pressure from Kenyans for the government to declare cancer a national disaster.
However, Health Cabinet Secretary Sicily Kariuki on Wednesday said there in no solid evidence to support such a declaration.