Kenya Cuts Share Of Oil Revenues To Local Communities

13 Jan 2018   Kenya

Kenya has decided to allocate 20 percent of future oil revenues to the communities where crude oil has been discovered, cutting the share from an initial proposal to give local counties and communities 30 percent of future oil income, a senior Kenyan government official told Reuters on Friday. In November 2017, Kenya planned to give 30 percent of oil revenues to the local communities, backtracking on a previous proposal to cap revenues at specific amounts in what analysts saw largely as a political move. In a first draft of the oil revenue bill, Kenya’s government had indeed proposed 30 percent of oil income to go to local governments and communities, but it later withdrew the proposed legislation, citing “typographical errors”, according to Reuters. Now Kenya plans to submit a new bill to Parliament in February, with the 20-percent oil revenue for the places where oil is located divided between […]

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