Tullow starts search for Kenya oil buyers
British oil exploration company Tullow has started the search for buyers of Kenya’s small-scale crude petroleum exports ahead of the first shipment expected in the next four months.
The UK multinational, in a trading update filed Wednesday at the London Stock Exchange, said it had received interest from unnamed potential buyers of the commodity.
The exports are intended to test the international markets’ reception to Kenya’s crude discoveries ahead of commercial production projected to start in about three to four years.
More than 70,000 barrels of oil have so far been transported by road to Mombasa where they are being stored.