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Chinese refinery pays premium for Kenya oil

Kenya has found a buyer for its first batch of crude oil in a deal that will see the commodity fetch a better return compared to the current market prices roiled by US-China trade tensions.

The Petroleum and Mining Ministry yesterday said Chinese firm ChemChina through its London-headquartered trading arm was selected from a list of eight firms that had bid to buy the country’s 200,000 barrels of oil produced on a pilot basis.

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