Government projects Sh370b in revenue from Lokichar oil fields

National Treasury CS John Mbadi says Kenya Petroleum Refinery Limited is projected to earn Sh42.3 billion in storage and handling revenues. [File, Standard]

The government is expected to earn between Sh136 billion and Sh371 billion once the South Lokichar oil project begins full development and production of oil in Turkana County.

National Treasury Cabinet Secretary John Mbadi told a joint meeting of the Senate and National Assembly Energy Committees that this money will come directly from the government’s share of oil profits and its participation in the project.