The US government says it will help Kenya get the financing it needs to build a billion dollar pipeline from the oilfields in the country’s northwest to its southeastern Indian Ocean coast to help it become a net exporter of oil.
The pipeline would run almost 500 miles from Lokichar in Kenya’s Great Rift Valley to the coastal town of Lamu.
The pan-African financial institution Ecobank Transnational Inc. says it has proven reserves of about 1 billion barrels of crude oil, but the London-based energy company Tullow Oil Plc, which already has discovered 600 million barrels of crude in the South Lokichar Basin alone, has yet to begin drilling there because of the persistent low price of oil.
