The East African - - BUSINESS -

The oil will be sold to in­ter­na­tional buy­ers through com­pet­i­tive bid­ding. The crude oil is ex­pected to be dis­counted at $2 a bar­rel of pre­vail­ing price. In 2016, Kenya’s En­ergy Min­istry, which han­dled oil, said Kenya would make be­tween $34 and $50 per bar­rel in prof­its from the ex­port, which would place its break-even level above oil-rich economies such as Saudi Ara­bia at $$23.50, but lower than Nige­ria’s profit level of $31.60, ac­cord­ing to data from Nor­way-based con­sul­tancy firm Rys­tad En­ergy.

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