M a r k e t N e w s

The U.S. Ready to Invest Sh2.4 Trillion in Kenyan Oil Industry

Posted on : Wednesday , 6th January 2016

 The American Government Tuesday expressed interest in funding construction of an oil pipeline linking northern Kenya oil fields to Lamu, upping its stake in the Lappset project.

 
Initially designed and planned to be funded by Chinese, the US says it is ready to invest in the Sh2.4 trillion project to open up northern Kenya and link up landlocked South Sudan and Ethiopia to the Lamu port.
 
US Ambassador to Kenya, Mr Robert Godec, said his government would help secure funding to a tune of Sh1.4 trillion towards the oil pipeline and power generation projects thereby fast-tracking the government's pledge to export oil as well as provide locals with cheap electricity.
 
"Commercially viable oil reserves were discovered in 2012 but to date nothing has happened which makes Kenyans wonder what happened. We are confident that the PowerAfrika initiative will help us realise our pledge to Kenyans," said newly appointed Energy Cabinet Secretary Alfred Keter adding that extra funds will also be sourced through the Export-Import Bank.
 
Mr Godec said US is also interested in funding expansion of electricity generation capacity and distribution which will help fast-track realisation of ongoing power projects to meet growing demand.
 
The envoy spoke on Tuesday when he held talks with Mr Keter in Nairobi. Mr Keter said a technical team comprising Energy ministry experts and the American government's PowerAfrica initiative side will work out details of the pipeline and electricity generation ventures.
 
He said the ventures are aimed at reducing the cost of power while creating new economic avenues for Kenyans to engage in income-generating activities.
 
"We are committed to this plan of making energy cheaper for Kenyans through this initiative that seeks to enhance production of green energy, connect more Kenyans and also seek to support off-grid solutions in remote areas that might take long before getting connected to the national grid," said the ambassador.
 
Mr Godec said America is closely involved in small power projects, especially on development of renewable energy sources such as solar, wind and hydro-projects.
 
This, he said, would ensure that areas not close to the national grid can develop their own power sources and establish local distribution grids to light up social amenities as well as local industries.
 
President Uhuru Kenyatta has since given a State House logistics team one month to work out the modalities of crude oil transportation from Turkana oil fields to Mombasa for processing starting September this year which will signal Kenya's entry into the big league of oil producers and exporters.

Source : allafrica.com
Featured Companies
  • GULF WELL SOLUTIONS
  • SKYTRADE GLOBAL ENTERPRISES LTD
  • /
  • MAVI DENIZ CEVRE HIZ A.S
  • Your Banner HERE!

Complete List  

Advertisers in previous issue:

  •  K & S Financial Group is the link between the end buyer and a reputable Russian refinery.
  •  Global Air Freight Solutions For Oil & Gas Shipments
  • Automatic brick manufacturing machines
  • GLOBE GAS specialises in Multi Cylinder installation, Pipeline Installation, LPG Tank (Bulk) Installation, Designing Kitchen Layout etc.
  • South African incinerator and cremator designer and manufacturer making significant inroads into overseas markets.
  • Manufacturing and marketing "aira" brand Valve Automation Products
  • Pumping solutions, a technological potential.
  • Seco actively contributes to improving your productivity and competitiveness in metal cutting machining.
  •  Portwest is a global vertical company with over 100 years of experience in the design, manufacture and supply of protective clothing, safety footwear, specialist gloves and PPE to resellers and distributors at the most competitive prices.
  • Leading manufactures and expoters of the electronic products
  • Pumps for dewatering, ground water control, sludge and slurry handling.
  • Aygaz is the only fully integrated LPG company in Turkey, operating in all LPG processes, including production, procurement, storage and filling
  • We manufacture; As Welded, Outer Diameter Conditioned, and Bead Hammered stainless steel tubing to ASTM standards We manufacture; As Welded, Outer Diameter Conditioned, and Bead Hammered stainless steel tubing to ASTM standards
  •  ABL Machine Tools, One of the group companies of ABL India is India
  • Shenzhen City, Riland Industrial Co., Ltd. is China
  • Industrial  machinery
  • Vrushabh is one of the leading manufacturer and distributor of Conveyor Belts, Transmission Belts, Elevator Belts, PVC Belts.
  • VALSER Oil & Gas Limited was created to service the oil & gas, petrochemical, refining and power industries in East Africa
  • Manufacturer of heavy duty machinery
  • Fuel Metering System
  • Ducorr is engaged in the engineering, manufacture & deployment of cathodic protection systems and products.
  • ISISAN is a core member of a group who employs, approx 2000 people and active in pipe manufacturing, furniture, machine made carpets, flour mill and animal feed production.
  • Manufacturers & Exporters of hand tools, garden tools & leatheer tool pouches.
  • Sonmez Makina Ltd. is a manufacturer and exporter company for filling systems of domestic use LPG cylinders.
  • Global Air Freight Solutions for Oil & Gas Shipments.
Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2026 Afrotrade