Africa’s Richest Man Proposes To Build 700,000 Bpd Oil Refinery In Kenya

East Africa has spent decades exporting one commodity and importing another.

The region holds roughly 4.7 billion barrels of crude oil reserves and more than 70 trillion cubic feet of natural gas across Uganda, South Sudan, Kenya and the DRC, according to the African Energy Commission (AFREC).

Yet it imports 100% of its refined fuel after Kenya Petroleum Refineries Limited (KPRL), the region’s last operating refinery, shut down in 2013.

Nigerian billionaire Aliko Dangote now says he intends to reverse that equation with a $17 billion (KSh2.2…