Kenya’s National Assembly to discuss oil cash sharing formula

NAIROBI: Oil-producing counties will get 20 per cent of the total revenues from the black gold, if a bill introduced by the national government in the National Assembly is enacted.

However, although clause 94 of the Petroleum (Exploration) and Production Bill 2015 states that a county shall be entitled to 20 per cent of the total oil revenues, it states that the amount cannot be twice the county’s annual allocation by the Commission for Revenue Allocation.