African Oil Update!
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I was wondering if anyone had some insight on this and whats happening? Thanks!
News for ’AOIFF’ – (State Given 21 Days to Respond to Claims)
Jun 22, 2012 (The Star/All Africa Global Media via COMTEX) — The government has been given 21 days to explain in Parliament if it is true that a company associated with a Cabinet minister sold the block where oil was found in Turkana. The directive was given yesterday by National Assembly Speaker Kenneth Marende following a petition by the people of Turkana which was read in
Parliament by Turkana Central MP Ekwee Ethuro.
The petition has been directed to the Ministry of Environment and Natural Resources. Reports indicate that in 2010, Turkana Drilling Company, associated with a Cabinet minister sold Block 10BB for $10 million (Sh840 million) to Africa Oil. Yesterday, Abdi Nuh MP for Bura complained that the government did not give the true position on the reports. Ethuro said the people of Turkana
want a clear statement on the companies licensed to drill oil in Turkana including their ownership and directorship. Including how they will benefit from the oil revenues.
by Francis Mureithi
Source: Comtex Wall Street News
