×
The Standard e-Paper
Stay Informed, Even Offline
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Canadian oil firm Vanoil is planning to sue the Kenyan government to have the termination its licences in Kenya reversed. The firm said it would 'vigorously' evaluate all the legal remedies in its bid to recover the investments made and lost profits.
It also said it would demand an arbitration on the move by the Energy and Petroleum ministry to terminate its exploration licence in Northern Kenya. The firm could be asking for as much as Sh8.6 billion in the suit, which it has in the past spent in exploration activities so far and missed opportunities since the revocation of its licences to explore oil in Blocks 3A and 3B in Northern Kenya.
Subscribe to our newsletter and stay updated on the latest developments and special offers!
join