| Cash generated from Kenya’s oil production will not be used for the sovereign wealth fund if a Bill on sharing crude oil money is adopted. The revised version of the Petroleum Bill, 2015 shows that the national government will be allocated 75 per cent oil royalties, with counties getting 20 per cent of the cash and local communities where crude production will be undertaken taking five per cent.
This is a departure from the earlier version of the Bill that provided at least five per cent of oil royalties for the sovereign fund. Kenya estimates its crude oil reserves to be about one billion barrels – which experts say is enough to make the export business viable—and expects to start crude exports in 2022...............................................Full Article: Source
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