Posted 1/29/2024, 9:00:10 AM
Kenya Loses $200 Million Over Uganda Oil Deal Fallout
- Kenya has lost an estimated $200 million over 3 months due to oil dispute with Uganda
- Uganda opted for Tanzania as an alternative oil partner in October 2022
- Dispute originated from Uganda's displeasure with Kenya's golf deal with UAE and Saudi Arabia
- Uganda deciding to officially switch to Tanzania for oil imports after failing to get license in Kenya
- If dispute continues, it could jeopardize Kenya’s investments in new oil terminals and jetty