Kenya’s Plan To Nationalize All Oil Imports Faces Resistance ...Middle East

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Kenya’s Plan To Nationalize All Oil Imports Faces Resistance
source : OILPRICE ( Middle East ) () 34
Kenya’s plan to have the government take over all imports of petroleum products from private companies has been challenged in court, with several petitioners seeking a ruling that the nationalization of the oil imports is unconstitutional.   Kenya decided to go with the plan to have all oil imports nationalized after a severe foreign exchange reserves crunch left the African country with just four months worth of foreign currency to cover imports. So the government and the energy ministry are seeking to take over all imports and pay…

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