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OIL Officially found in TURKANA
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2012
#181 Posted : Tuesday, March 27, 2012 9:23:22 AM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Rahatupu wrote:
I hope their rights end at drilling. what happens to where the oil is refined, sold should not be their business... only hoping.


I don't think so. This is a life-time relationship which is based on percentage profit sharing. Let's hope the Gov't got a good deal like 70-30 which I doubt.

BBI will solve it :)
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YesuWangu
#182 Posted : Tuesday, March 27, 2012 9:24:57 AM
Rank: Elder

Joined: 8/11/2010
Posts: 1,588
Rahatupu wrote:
Insurgent wrote:
Nigeria is the largest Oil producer in Africa and fourth in the world. They do not have refinery and have to export it to Europe for refining and then re-exported to Nigeria at more than double the price. Nigerian government had to subsidize the oil at a cost of 8billion annual to keep the refined petrol at affordable prices. The subsidies were coming from citizens pocket via taxation.

Kenya, which has not been producing oil has been having a refinery. Now that Tullow (British company) has the Turkana oil find drilling rights, will they be taking the oil to Britain for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done.



I hope their rights end at drilling. what happens to where the oil is refined, sold should not be their business... only hoping.


Someone explain to me why the share price of Tullow oil has jumped almost 7%. What about the NSE?

Now that livelihoods in London are getting secured with more money, will the queen and her government just lay back and let their citizens livelihood and happiness lie in the fickle fingers of foreigners?

What am I saying? Am I saying we have painted a bright red & orange & yellow bulls eye on our land, and our lives?

Tafakari.
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dossy7
#183 Posted : Tuesday, March 27, 2012 9:43:44 AM
Rank: Elder

Joined: 12/9/2009
Posts: 1,493
Location: Nairobi
Insurgent wrote:
Kenya, which has not been producing oil has been having a refinery. Now that Tullow (British company) has the Turkana oil find drilling rights, will they be taking the oil to Britain for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done.


Insurgent i thought i heard Tullow Inc is an irish company not british.
Kenya ni yetu sisi sote
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Sufficiently Philanga....thropic
#184 Posted : Tuesday, March 27, 2012 9:57:26 AM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
Jamani wrote:
youcan'tstopusnow wrote:
Lets us wait and see if kesho there shall be a jump in turnover at the NSE...


Keep your eyes on KK....

@SufficientlyP
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theman192000
#185 Posted : Tuesday, March 27, 2012 10:24:23 AM
Rank: Member

Joined: 7/11/2008
Posts: 401
GGK wrote:
who is saying oil will petrol will cost 10bob/litre? the current crude prices is about 107$per barrel=>57/=per litre. add refinery cost, taxes, transport & dealers cuts n we'd be lucky to get it at 80/= per litre.

the oil find is important coz millions of dollars spent on importation will remain here releasing pressure on our forex reserve. this can only be anything but bad


GGK while I agree with you that 10bob/litre is a bit of a stretch, I don't buy the rest of your argument.

Is the current price of 57/- the production cost or the FOB price?

We know that bank employees get loans below base lending rates.

Note like you've rightly indicated the import bill will reduce and strengthen the shilling so that 10 bob will be more valuable down the road.
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gathinga
#186 Posted : Tuesday, March 27, 2012 10:43:03 AM
Rank: Veteran

Joined: 11/30/2006
Posts: 635
Jamani wrote:
youcan'tstopusnow wrote:
Lets us wait and see if kesho there shall be a jump in turnover at the NSE...


Keep your eyes on KK....



Should KK not suffer from this? KK business model is to import crude from Middle East, refine and distribute. With crude available locally that model is disrupted. Its not safe to assume that KK will be effective in carrying out the inevitable change in business model. We may need to study what happened to existing marketers when oil was discovered in Nigeria.
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gatoho
#187 Posted : Tuesday, March 27, 2012 11:26:22 AM
Rank: Member

Joined: 1/1/2010
Posts: 518
Location: kandara, Murang'a
limanika wrote:
Will celebrate when we know where exactly and how many barrels. I hope not too near elemi triangle and/or Ethiopia border



My Exact sentiments OPF wako ritho.
Foresight..
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Cde Monomotapa
#188 Posted : Tuesday, March 27, 2012 11:40:12 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
smile
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  | | Edit by user: Tuesday, March 27, 2012 11:45 AM | Reason: Not specified
kingfisher
#189 Posted : Tuesday, March 27, 2012 1:56:36 PM
Rank: Elder

Joined: 4/9/2008
Posts: 2,824
when will this news have a north bound effect on the KES?
When I have money, I get rid of it quickly, lest it find a way into my heart.
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masukuma
#190 Posted : Tuesday, March 27, 2012 2:16:55 PM
Rank: Elder

Joined: 10/4/2006
Posts: 13,823
Location: Nairobi
east or west home is best!
All Mushrooms are edible! Some Mushroom are only edible ONCE!
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