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Tuesday 15 June 2021
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Kenya, Libya sign ‘cheap’ oil agreement

Nairobi, Kenya (PANA) – Kenya and Libya have signed an agreement that will see the east African country import oil at cheaper rates from Libya, a government source disclosed here Thursday.

The Presidential Press Service (PPS) said both sides signed the deal during a three-day official visit by Kenyan President Mwai Kibaki to Libya.

The deal signed in Sirte will allow Kenya to buy oil from Libya at concessionary rates, the PPS dispatch said without giving details of the deal.

Kibaki, who met Libyan leader, Col. Moammar Kadhafi during his state visit in Sirte on Thursday, said the agreement would free public resources and allow the government to undertake other development activities.

Senior Kenyan government officials from the energy ministry met in Tripoli last January with their Libyan counterparts leading to the signing of a Memorandum of Understanding with Libya’s Tamoil Holdings Limited.

Tamoil have expressed interest in upgrading the Kenya Oil Refinery and building a Liquefied Petroleum Gas Storage and distribution facility in Mombasa, Kenya.

Kenya and Libya also signed a trade agreement binding the two countries to grant each other ‘most favoured nation’ treatment in all matters relating to customs duties and all other charges and taxes applicable to the importation and exportation of goods.

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