Tullow sells stake in lucrative Rift Valley oil block

Tullow Oil employees inspect the first crude oil consignment from Lokichar, Turkana County upon its arrival at the Kenya Petroleum Refineries storage facility at Changamwe in Mombasa County earlier this month. [Maarufu Mohamed, Standard]

Tullow Oil has been given the go-ahead to sell a 10 per cent stake in an oil block in Elgeyo Marakwet.

The buyer, Delonex Energy headquartered in the UK, will now increase its stake in Block 12A to 60 per cent following several acquisitions while Tullow’s share will come down to 40 per cent.