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State-backed Gulf Energy bags Sh93.68b oil storage deal

A Gulf Energy outlet on Jogoo Road in Nairobi. [David Njaaga, Standard]

Kenya Pipeline Company (KPC) has quietly signed a 25-year crude oil storage and handling contract with Gulf Energy E&P BV, projected to generate up to Sh93.68 billion in gross revenue.

The deal places the fast-rising local firm at the centre of Kenya's long-delayed oil production ambitions.

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