Kenya will invade the Asian market as an oil exporter by mid-2017. China and India are going to import oil from Kenya under a test program that will be launched in June, in opposition to a prior announcement stating that Kenya would be exporting its oil to buyers in Europe, Petroleum Africa reported.
The country’s Petroleum Principal Secretary, Andrew Kamau, said in his statement to the media that the first sea tankers are expected to dock at the port of Mombasa in June to pick up the consignment currently stored at the Mariakani refinery tanks after it was transported from northern Kenya by road, The East African informed.
“About Europe, let’s just leave it until people have confirmed they will pick it up,” he added.
Crude exports are expected to open a new line of trade between Kenya and the two Asian powerhouses, which are considered the biggest suppliers of goods to Nairobi.
Kenya’s crude oil is categorized under the light and sweet category which is mostly sold for higher prices in the global market since it is easier to be refined and it has the ability to produce high-value products like petrol and diesel.