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Saudi Aramco, Adnoc, Emirates National Oil Co To Bid In Kenya Oil-Import Deal

OIL

Saudi Aramco, Abu Dhabi National Oil Co. and Emirates National Oil Co. are among firms that bid to supply petroleum products to Kenya under the East African nation’s plan to nationalize oil imports, according to people with knowledge of the matter.

  • The companies submitted bids following a tender issued by Kenya according to sources.
  • Kenya’s administration is advancing a plan to take over fuel imports from private companies, as part of a strategy to ease pressure on the nation’s foreign reserves.
  • Under the proposal, Kenya wants to defer payment to suppliers by at least six months as opposed to the current arrangement where around $500mn is required monthly to pay for cargoes within a week of delivery.
Energy BulletsCommodities
Energy BulletsCommodities

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