Govt eyes strategic fuel reserve to cushion supply shocks
Energy Cabinet Secretary Opiyo Wandayi told the parliamentary Energy Committee that discussions are ongoing to set up a strategic petroleum reserve, noting that Kenya currently lacks a national fuel buffer system. Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Kenyan government is partnering with private sector investors to establish a strategic petroleum reserve in Mombasa, aiming to enhance energy security and mitigate the impact of global supply shocks.
- Kenya plans to create a national fuel buffer system, as it currently relies solely on import schedules.
- Energy Cabinet Secretary Opiyo Wandayi announced the ongoing discussions for the contingency storage facility.
- Kenya imported 5.2 million tonnes of petroleum products in 2024, highlighting its significant reliance on imports, often obtained through government-to-government deals.
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Global economy at risk of recession if Iran war persists - April 2026
The International Monetary Fund warned that the global economy faces a recession risk if the war with Iran persists, leading to sustained high energy prices. Oil prices eased on Tuesday as hopes of new peace talks between the US and Iran emerged following President Donald Trump's announcement that Tehran had contacted Washington about a potential agreement. Britain's total retail sales saw a significant increase of 3.6 percent year-on-year in March, driven by robust food sales according to the British Retail Consortium. Separately, the Kenyan government is partnering with private sector investors to establish a strategic petroleum reserve in Mombasa, aiming to enhance energy security and mitigate the impact of global supply shocks.
