Kenya to Export Second Batch of 500,000 Barrels of Crude oil in Feb. 2020

Kenya will export its second batch of 500,000 barrels of crude oil at the end of February 2020.

The second export consignment under the Early Oil Pilot Scheme (EOPS) initiative by the government.

In August, Kenya’s first oil purchased by China National Chemical Corporation (ChemChina) was valued at Ksh.1.2 billion ($12 million) from the offsetting of 240,000 barrels of crude.

“We want to sell crude oil in bigger consignments in the future to achieve better prices at the international oil markets,” said Brian Muriuki, an advisor to the State Department of Petroleum. “We would anticipate better pricing from a larger load. With a larger vessel, we expect to get closer to Brent parity in terms of pricing.”