The World Bank has issued a stark warning that rising global oil prices, exacerbated by conflict in the Middle East, could plunge between 1 million and 2.4 million more Kenyans into poverty this year.

• A warning that the oil price shock could push 2.4 million Kenyans into poverty.
• The warning comes from the World Bank.
• The report also revises Kenya's economic growth forecast down to 4.3 percent for 2026.

South Sudan is broadening its fuel import program to include more Kenyan and international oil marketers, aiming to break Pacific Petroleum’s exclusive deal and stabilize fuel prices.

• South Sudan has nominated Gulf Energy, Sovereign Energy Oil Trading LLC, and Skysoar Holding Company to join its Government-to-Government (G-to-G) fuel import initiative.
• This move seeks to enhance competition, boost fuel uplift from the Kenya Pipeline Company (KPC), and address operational challenges within the current G-to-G arrangement.
• The G-to-G program, introduced earlier this year, is also facing a legal challenge in Juba, with a court ordering a suspension of its implementation.

President William Ruto has announced that a new oil refinery planned for Lamu, developed with Nigerian billionaire Aliko Dangote, is expected to generate at least 60,000 jobs and establish Kenya as a regional energy hub.

• The project is projected to create approximately 60,000 jobs.
• Key players include President William Ruto and Aliko Dangote of the Dangote Group.
• The refinery, estimated to cost Sh2.2 trillion, will be the largest in East Africa, processing up to 700,000 barrels of crude oil daily.