Crude oil exploration: Kenya will avoid negative results confronting oil producing nations

Crude oil exploration: Kenya will avoid negative results confronting oil producing nations – President Kenyatta

Allen Atwine, East Africa

President of Kenya, Uhuru Kenyatta on Sunday disclosed that the East African country will effectively manage oil and other natural resources to avoid the negative results that have confronted other top oil producing nations, as a result of the mismanagement of their oil wealth.

He made the statement while addressing dignitaries, leaders and residents of Turkana County who gathered to witness him flagging off Kenya’s first petroleum exports.

Kenya started her journey into becoming an oil exporting country by laying down legislation to guide the sharing of revenue from petroleum resources.

The Petroleum (Exploration and Production) Bill sets the foundation for a revenue sharing formula between the national and county governments and the people.

Under the Bill, 75 percent of the revenue from the production and export of oil will go to all the Kenyan people through the national government. 20 percent will go to the county government of Turkana while 5 percent is reserved for the local community.

Kenyatta said there was a danger of losing all the benefits that can come from Kenya’s new oil wealth in the absence of effective resource management.

The law got endorsement recently after consultations between President Kenyatta and the leadership of Turkana County headed by Governor Joseph Nanok.

He said, “The negative competition for oil and other natural resources has seen peaceful countries go to war. It has seen brothers take up arms against each other as mothers bury their children with no hope for the future.

President Kenyatta, who later addressed a public rally at Lokichar town, said Kenyans should draw lessons from other countries that failed to manage their resources and ended up with poverty, hunger and penury.

“I pray that we will not be visited with the same curse. I also pray that we will view the discovery of oil and gas as a blessing that we will manage effectively and efficiently for the benefit of future generations.

“Every Kenyan therefore has a stake in the development of the oil and gas sector and most importantly in the safeguarding of its resources,” said the President.

The President reiterated his call for amicable resolutions to any issues relating to resources. He also urged the country’s political and traditional leaders to ensure peace and stability in the region.

According to him, any disagreements that might arise from control of the oil wealth must be resolved in an amicable and sustainable manner

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