A week after the Kenyan government announced it was ending the Government to Government (G-to-G) oil deal with Gulf companies including Saudi Aramco, Energy Cabinet Secretary Davis Chirchir and President William Ruto's economic advisor David Ndii travelled to Saudi Arabia to seek enhanced petroleum cooperation.
Saudi Press Agency reporting from Riyadh, Saudi Arabia, stated that Chirchir held a high-level meeting with his Saudi counterpart, Prince Abdulaziz bin Salman to explore mutual areas of cooperation.
Chirchir acknowledging the reports indicated that Kenya was seeking partnerships that can contribute to expediting the achievement of development goals in the energy and petroleum sector.
“The meeting also explored opportunities for collaboration between the two countries, centering on enhancing cooperation in petroleum and its supplies,” it was reported of the meeting.
In that regard, Saudi Arabia will help Kenya in developing its renewable energy program to promote energy efficiency.
Additionally, the two countries will exchange expertise in project development, policies, and systems.
Welcoming CS Chirchir to Saudi Arabia, Salman stated that their talks will further encompass other sectors including communication, electronic health, and online education.
The two leaders did not divulge if Kenya’s oil deal with Saudi Aramco featured in the discussions.
The Kenyan government in 2023 announced that it would be buying fuel on a 180-day credit line from Saudi Aramco, Abu Dhabi National Oil Company and Emirates National Oil Company.
The deal which was supposed to end in December 2023 was extended for one year to December 2024.
In January, the National Treasury communicated to the International Monetary Fund (IMF) that there would be no further extension after the lapse of the current contract.
Treasury CS Njuguna Ndung’u explained that the oil deal had served its purpose - stabilising the Kenyan Shilling and averting an economic shutdown in 2023.
