Kenya announced the credit-based fuel sourcing deal with Saudi Aramco, Emirates National Oil Company, and the Abu Dhabi National Oil Company on March 13.
Kenya started importing diesel, super petrol and jet fuel on credit in a deal the government said is meant to ease demand for the dollar and prop up the battered shilling.
Kenya is set to pay Sh247.43 billion ($1,649,535,513) to three Gulf oil firms as proceeds from the sale of fuel sourced through the government-to-government deal.
The Senate Committee on Energy heard that the United Arab Emirates and Saudi Arabia oil companies have already pocketed Sh127.26 billion ($848,378,738) from the supply of fuel on credit since the deal was sealed in March, 2023.
