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UAE oil firm acquires Essar Petroleum in Kenya

NAIROBI: UAE-based oil firm Gulf Petrochem Group Wednesday announced it had acquired Essar Petroleum East Africa Ltd. The new entity has been renamed Aspam Energy (Kenya) Ltd.

The multi-million dollar deal will see Gulf Petrochem Group make an entry into the East African market at a time when the region is making significant developments in the energy sector.

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