Petroleum Africa
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Thursday, October 27, 2016
PricewaterhouseCoopers (PwC) has been selected by Kenya Pipeline Co. (KPC) as lead adviser on its proposed purchase of Kenya Petroleum Refineries Ltd. (KPRL).
PwC will lead a group of companies in carrying out a full-scale research and analysis on KPRL and its outcome will be announced before January. Following the study a decision will be made as to whether to move forward with the purchase.
KPRL’s operations have been put on hold since 2013. The government gained full ownership of the facility in April when the Treasury paid India-based Essar Oil Ltd. $4.9 million for its 50% interest in the refinery.
With Tullow Oil and Africa Oil’s pilot production scheme in the works, a working refinery would be a boon for the country’s economy.
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