Thursday, July 5, 2012

Kenya cancels Iran oil deal

On Wednesday, the Energy permanent secretary Patrick Nyoike said that the government had cancelled its agreement to import 4 million tones of Iranian Crude oil annually as a result of the international sanctions against Iran.
The cancellation comes at a time where the West, in particular the European Union and United States has mounted pressure on Tehran over its nuclear ambitions.
However, Nyoike has made it clear that Kenya had not signed an agreement but only had a memorandum of understanding with Iran to import its crude oil.
The P.S has also said that the cancellation of the memorandum had nothing to do with allegations that two Iranians believed to be agents of a secretive unit in the Iranian armed forces were planning a big attack in Kenya.  

In other news:  Africa Oil has announced discovery of additional oil in Kenya. British firm Tullow oil has struck more oil in the Ngamia-1well after drilling to a depth of 2340 metres. The new discovery is that of a further 43 metres of light oil in the well operated by gas company Africa oil and Tullow Oil.
The UK-listed company will also explore for oil in Kapsoit, Kericho county and Nyakach in Nyanza, according to a recent revelation by Belgut MP Charles Keter.

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