Kenya extends oil supply agreement with three Gulf companies, Bloomberg News reports
Kenya has renewed a contract to purchase fuel on credit from three state-owned Gulf companies by two years and renegotiated lower margins, Bloomberg News quoted the country's energy regulator as saying.
Saudi Aramco, Emirates National Oil and Abu Dhabi National Oil will continue to supply gasoline, diesel, kerosene and jet fuel to the East African nation under a 180-day credit plan, Daniel Kiptoo, the head of the Energy and Petroleum Regulatory Authority (EPRA), told Bloomberg News.
The contract extension will begin towards the end of 2025 after Kenya completes imports of previously agreed shipments, Kiptoo said. Kenya had previously extended the oil supply deal to the end of 2024.
Trade between Kenya and the UAE has more than doubled over the past decade. The UAE is the sixth-largest export market for Kenyan goods and its second biggest source of imports.
(Reporting by Ojasvi Gupta in Bengaluru Editing by David Goodman )
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