Crude Oil: Kenya Earns $12 Million From First Export

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Kenya has joined the league of oil-exporting countries with the sale of 200,000 barrels of crude oil, yesterday, Thursday.

Breaking the news during a cabinet brief at the State House in Nairobi, President Kenyatta said the country earned $12 million (Sh1.2 billion) from the deal.

“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,” Kenyatta said.

The sale comes a year after Kenyatta flagged off trucks carrying crude oil from Lokichar in Turkana to Mombasa for storage at Kenya Oil Refineries Limited.

At the time, the government announced that it would only be able to export the oil for sale after hitting 200,000 barrels.

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