Petroleum Africa
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Tuesday, April 18, 2017
Kenya is looking to import crude from Saudi Arabia. Kenyan president, Uhuru Kenyatta, met with a delegation of Saudi investors and expressed his desire to import cheaper crude oil from Saudi Arabia to refine locally.
Kenya is working to establish itself as a major regional hub for the distribution of petroleum products. The government is looking to invest $1 billion in boosting the refining capacity of its Mombasa refinery.
The Saudi investors expressed interest in investing in Kenya, as it looks to diversify is revenues in emerging economies.
“We have made efforts to create an environment conducive to foreign and domestic investment. We urge you to take advantage of the enormous opportunities we have created, the main ones being infrastructure projects,” said the president.
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