×
App Icon
The Standard e-Paper
Truth Without Fear
★★★★ - on Play Store
Download Now

Blow for Kenya oil dream as Indian firms ditch Sh411b deal

Workers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar, Turkana County, on February 8, 2018. [Reuters, File]

Kenya's petrodollar dreams have gone up in smoke after two Indian state-backed energy majors called off talks for buying a multi-billion stake in Tullow Oil's Lokichar oil field in Kenya.

The deal was estimated last year to be worth between $2 billion (Sh274 billion) and $3 billion (Sh411 billion).

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in