Government says present crude oil capacity insufficient for refineryCrude oil deposits so far discovered in Kenya are insufficient to allow for the building of a refinery, a senior petroleum ministry official said on Tuesday. Kenya, which currently exports no crude, discovered commercial oil reserves in its Lokichar basin in 2012 and Tullow Oil estimates the basin to contain an estimated 560 million barrels in so-called 2C proven and probable oil reserves. Tullow has said this would translate to 60,000 to 100,000 barrels per day of gross production. “And we have 80,000 barrels a day, so where are we going to make money on that? Other partners in the blocks with crude oil discoveries are Africa Oil Corp and Total.

Source: Standard Digital February 19, 2019 07:52 UTC