Kenya plans to allocate 30 percent of future oil revenues to the community where the crude oil has been discovered, backtracking on a previous proposal to cap revenues at specific amounts in what analysts see largely as a political move. Commercial quantities of crude oil in Kenya were discovered in 2012 in the far northern county of Turkana. Tullow Oil, which discovered the resources, has continued its exploration and appraisal drilling campaigns in Kenya, and an initial assessment indicates recoverable resources of up to 750 million barrels of oil . Tullow Oil is currently reviewing the data from the South Lokichar basin and plans to announce its assessment of contingent resources as well as its plans for developing the basin in the first quarter of 2018. Kenya’s government initially wanted to cap the revenue sharing to the equivalent of US$213 million (22 billion shillings) for the local county government […]