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OIL Officially found in TURKANA
Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Rahatupu wrote:I hope their rights end at drilling. what happens to where the oil is refined, sold should not be their business... only hoping. I don't think so. This is a life-time relationship which is based on percentage profit sharing. Let's hope the Gov't got a good deal like 70-30 which I doubt.
BBI will solve it :)
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Rank: Elder Joined: 8/11/2010 Posts: 1,588
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Rahatupu wrote:Insurgent wrote:Nigeria is the largest Oil producer in Africa and fourth in the world. They do not have refinery and have to export it to Europe for refining and then re-exported to Nigeria at more than double the price. Nigerian government had to subsidize the oil at a cost of 8billion annual to keep the refined petrol at affordable prices. The subsidies were coming from citizens pocket via taxation.
Kenya, which has not been producing oil has been having a refinery. Now that Tullow (British company) has the Turkana oil find drilling rights, will they be taking the oil to Britain for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done. I hope their rights end at drilling. what happens to where the oil is refined, sold should not be their business... only hoping. Someone explain to me why the share price of Tullow oil has jumped almost 7%. What about the NSE? Now that livelihoods in London are getting secured with more money, will the queen and her government just lay back and let their citizens livelihood and happiness lie in the fickle fingers of foreigners? What am I saying? Am I saying we have painted a bright red & orange & yellow bulls eye on our land, and our lives? Tafakari.
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Rank: Elder Joined: 12/9/2009 Posts: 1,491 Location: Nairobi
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Insurgent wrote:Kenya, which has not been producing oil has been having a refinery. Now that Tullow (British company) has the Turkana oil find drilling rights, will they be taking the oil to Britain for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done. Insurgent i thought i heard Tullow Inc is an irish company not british. Kenya ni yetu sisi sote
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Rank: Elder Joined: 9/23/2010 Posts: 2,220 Location: Sundowner,Amboseli
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Jamani wrote:youcan'tstopusnow wrote:Lets us wait and see if kesho there shall be a jump in turnover at the NSE... Keep your eyes on KK.... @SufficientlyP
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Rank: Member You have been a member since:: 7/11/2008 Posts: 401
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GGK wrote:who is saying oil will petrol will cost 10bob/litre? the current crude prices is about 107$per barrel=>57/=per litre. add refinery cost, taxes, transport & dealers cuts n we'd be lucky to get it at 80/= per litre.
the oil find is important coz millions of dollars spent on importation will remain here releasing pressure on our forex reserve. this can only be anything but bad GGK while I agree with you that 10bob/litre is a bit of a stretch, I don't buy the rest of your argument. Is the current price of 57/- the production cost or the FOB price? We know that bank employees get loans below base lending rates. Note like you've rightly indicated the import bill will reduce and strengthen the shilling so that 10 bob will be more valuable down the road.
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Rank: Veteran Joined: 11/30/2006 Posts: 635
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Jamani wrote:youcan'tstopusnow wrote:Lets us wait and see if kesho there shall be a jump in turnover at the NSE... Keep your eyes on KK.... Should KK not suffer from this? KK business model is to import crude from Middle East, refine and distribute. With crude available locally that model is disrupted. Its not safe to assume that KK will be effective in carrying out the inevitable change in business model. We may need to study what happened to existing marketers when oil was discovered in Nigeria.
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Rank: Member Joined: 1/1/2010 Posts: 511 Location: kandara, Murang'a
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limanika wrote:Will celebrate when we know where exactly and how many barrels. I hope not too near elemi triangle and/or Ethiopia border My Exact sentiments OPF wako ritho. Foresight..
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Rank: Elder Joined: 4/9/2008 Posts: 2,824
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when will this news have a north bound effect on the KES? When I have money, I get rid of it quickly, lest it find a way into my heart.
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Rank: Elder Joined: 10/4/2006 Posts: 13,821 Location: Nairobi
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east or west home is best!  All Mushrooms are edible! Some Mushroom are only edible ONCE!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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kingfisher wrote:when will this news have a north bound effect on the KES? KES will revert to 90s due to food inflation and oil inflation. Oil revenues will shore up the coffers in 5-7yrs time. So the immediate way of least resistance for KES esp in 2012 is to lose strength. And it will happen as soon as CBK starts reducing the CBR. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Can we start that bizna!!!  Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Turnover actually went down. hisah, how long did it take for Mongolia stocks to start zooming? Hehe  GOD BLESS YOUR LIFE
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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There remains only one dark cloud that is politics of hatred and war between 3 warlords. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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theman192000 wrote:GGK wrote:who is saying oil will petrol will cost 10bob/litre? the current crude prices is about 107$per barrel=>57/=per litre. add refinery cost, taxes, transport & dealers cuts n we'd be lucky to get it at 80/= per litre.
the oil find is important coz millions of dollars spent on importation will remain here releasing pressure on our forex reserve. this can only be anything but bad GGK while I agree with you that 10bob/litre is a bit of a stretch, I don't buy the rest of your argument. Is the current price of 57/- the production cost or the FOB price? We know that bank employees get loans below base lending rates. Note like you've rightly indicated the import bill will reduce and strengthen the shilling so that 10 bob will be more valuable down the road. GGK, you realize that in venezuela, it costs 5 shilling per litre? i dont see why we cant have 10 bob per litre. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Veteran Joined: 11/26/2008 Posts: 745
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Quote:Insurgent wrote:
Kenya, which has not been producing oil has been having a refinery. Now that Tullow (British company) has the Turkana oil find drilling rights, will they be taking the oil to Britain for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done.
Insurgent i thought i heard Tullow Inc is an irish company not british. OKAY, Kenya, which has not been producing oil has been having a refinery. Now that Tullow (IRISH company) has the Turkana oil find drilling rights, will they be taking the oil to Ireland for refining and eventually sell to the rest of the world and Kenya? If they do so, we are done.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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kyt, I think that has more to do with Chavez's socialist policies. Kwa maoni yangu, sioni tukiadopt such... GOD BLESS YOUR LIFE
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Tanzania plans September offshore oil licensing round http://af.reuters.com/ar...s/idAFJOE82Q05M20120327
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Tullow sees small Uganda production from late 2012 http://af.reuters.com/ar...s/idAFJOE82Q04020120327
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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youcan'tstopusnow wrote:Turnover actually went down. hisah, how long did it take for Mongolia stocks to start zooming? Hehe 4 years. Boy when the bull came, it was a bison $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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OIL Officially found in TURKANA
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