Details Of Chirchir And Ndii’s Meeting In Saudi Arabia After Govt Ended G-to-G Oil Deal
One week following the Kenyan government’s declaration to terminate the Government-to-Government (G-to-G) oil agreement with Gulf companies, including Saudi Aramco, Energy Cabinet Secretary Davis Chirchir and David Ndii, the economic advisor to President William Ruto, journeyed to Saudi Arabia to explore opportunities for improved collaboration in the petroleum sector.
The Saudi Press Agency, based in Riyadh, Saudi Arabia, announced that Chirchir engaged in a high-level discussion with Prince Abdulaziz bin Salman, his Saudi counterpart. The purpose of the meeting was to examine potential areas of collaboration between the two parties.
Chirchir acknowledged the reports, stating that Kenya is actively pursuing partnerships aimed at accelerating the realization of development objectives within the energy and petroleum industry.
“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 context, Saudi Arabia is set to assist Kenya in enhancing its renewable energy initiative to advance energy efficiency.
Moreover, there will be a sharing of knowledge between the two nations in the areas of project development, policies, and systems.
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Salman extended a warm welcome to CS Chirchir upon his arrival in Saudi Arabia, expressing that their discussions would also extend to various domains such as telecommunications, digital health, and internet-based education.
The two leaders did not disclose whether the discussions included Kenya’s oil agreement with Saudi Aramco.
In 2023, the Kenyan government declared its intention to procure fuel through a 180-day credit arrangement from Saudi Aramco, Abu Dhabi National Oil Company, and Emirates National Oil Company.
The agreement, originally set to conclude in December 2023, has been prolonged for an additional year, now concluding in December 2024.
In January, the National Treasury informed the International Monetary Fund (IMF) that there would be no additional extension once the current agreement expires.
Treasury CS Njuguna Ndung’u clarified that the oil agreement had achieved its intended goal, which was to stabilize the Kenyan Shilling and prevent an economic shutdown in 2023.
Details Of Chirchir And Ndii’s Meeting In Saudi Arabia After Govt Ended G-to-G Oil Deal
