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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.
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