Kenya: NOCK To Own 25 Percent of Oilfields

Author:
Kenya Citizen TV
Publisher:
Kenya Citizen TV
Publication Date:
13 November 2012
Tags:
Kenya, Petroleum

National oil corporation will own 25% of all commercial oil fields on behalf of the government and the people of kenya. Energy minister kiraitu murungi says that the government has already began negotiations with oil exploration companies to enable nock acquire the stake with nock currently controlling 10% of all commercial oil fields. Nock is expected to use the earnings to invest in various projects across the country with the government also introducing more stringent licensing regulations for oil exploration companies.

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