Africa’s Richest Man Proposes To Build 700,000 Bpd Oil Refinery In Kenya | EN590 Commodities
EN590 Commodities GroupEN590 / Diesel July 22, 2026
GE Vernova Raises Outlook As AI Power Boom Masks Wind Weakness Alex Kimani is a veteran finance writer, investor, engineer and researcher for Safehaven.com. East Africa has spent decades exporting one commodity and importing another. The region holds roughly4.7 billion barrels of crude oil reservesand more than 70 trillion cubic feet of natural gas across Uganda, South Sudan, Kenya and the DRC, according to the African Energy Commission (AFREC). Yet it imports 100% of its refined fuel after Kenya Petroleum Refineries Limited (KPRL), the region’s last operating refinery,shut down in 2013. Nigerian billionaire Aliko Dangote now says he intends to reverse that equation with a$17 billion(KSh2.2 trillion), 700,000-barrel-per-day refinery on Kenya’s Lamu Island that would process crude for Kenya
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