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Essar agrees to bring Tamoil into refinery
India’s Essar Oil and Gas has agreed to accept the Kenyan government’s proposal to let Libya’s Tamoil Africa Holdings take half of its share in the Mombasa refinery (AE 138/19). The 50% stake in Kenya National Petroleum Refineries previously owned by Shell, BP and Chevron was provisionally sold last year to Essar, subject to the government waiving its right of first refusal. However, Tamoil subsequently came in with a more attractive bid.
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