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Forum => Kenya Discussion => Topic started by: RV Pundit on May 12, 2015, 11:03:00 AM

Title: Can somebody fact check these figures
Post by: RV Pundit on May 12, 2015, 11:03:00 AM

http://uk.reuters.com/article/2015/05/12/kenya-oil-imports-idUKL3N0Y24D120150512

Title: Re: Can somebody fact check these figures
Post by: RV Pundit on May 12, 2015, 11:08:32 AM

If these figures are real; then we might not even have export market for Oil in uganda and Kenya; We can consume all the oil domestically.And us ourselves some forexs.

Title: Re: Can somebody fact check these figures
Post by: Kadudu on May 12, 2015, 12:15:31 PM

Refining the oil could prove to be difficult. Modern day refineries are only profitable if they refine very large quantities of crude oil. It may sound crazy but it might be more profitable for Kenya to export crude oil and then to import refined oil. Small refineries like the one being built in Uganda will not be profitable unless very large quantities of oil are to be explored but at the same time Uganda and Kenya lack the capacity to transport large quantities of oil.
Oil industry is tricky business as you se a country like Nigeria despite exporting oil for now 50 years still does not have the capacity to refine enough oil for its domestic demand.