Kenya Ships First Oil from Landmark 2012 Discovery

[Kate Turlington + 44]

Great day for Kenya (hopefully), as they ship the first oil from the 2012 discovery that put Kenya on the crude oil map (courtesy of Tullow Oil--one of the best developers in my opinion in terms of good governance). Now we just need a pipeline. 

[Rodent + 1,424]

And what of the resource curse? They seemed to come to some revenue sharing agreement, I believe with local and county. But for now looks like they are trucking 2000 bpd to Mombasa, which is not ideal. They really need to get it to Lamu, but they haven't built a pipeline yet. Looks like 2021/2022 before that is built. 

[Crow 0]

And will the people start getting something out of it or just the big wigs 

seems like the African way

[Tom Kirkman + 8,860]

6 hours ago, Rodent said:

And what of the resource curse? 

Funny you should mention the resource curse. I brought this up yesterday over on LinkedIn.  And an irate user named Muneeb appeared in the comments.  Too bad he didn't reply to my suggestion.

[Dennis Morton + 6]

Well I can tell you there are very few Kenyan regulations concerning oil exploration and development. And there is no governance of Tullow's operations. The Petroleum Bill has been pushed back and forth for five years and still to be passed. Tullow have spent nearly $2 billion on exploration costs since 2012, and the Kenya government has yet to audit Tullow's costs. Only this last week did they eventually source Swale to audit Tullow - six years after the initital invitation to tender