Kenya's 2004 oil import bill grew by 37.6 %

May 27, 2005 02:00 AM

Kenya's total oil import bill rose by 37.6 % to Sh 88.81 bn last year, the Economic Survey 2005 indicates. The rise from Sh 64.56 bn in 2003 was driven by increased crude oil imports, high international prices and depreciation of the shilling against major international currencies.
During the year under review, the volume of crude imports increased by 47.8 %, compared with a drop of 7.4 % recorded in 2003.

The crude oil import bill nearly doubled from Sh 25.41 bn in 2003 to Sh 45.95 bn in 2004. Import of petroleum fuels, however, dropped by 18 % from 1.8 mm tons in 2003 to 1.49 mm tons last year.
Crude oil intake at the Kenya Petroleum Refineries rose by 14.1 % in 2004 compared with a drop of 5.6 % in 2003 due to increased volumes of crude oil imports.

During 2003/2004 financial year, Sh 598 mm was spent on the rural electrification projects. In 2004, Sh 1 bn was collected from rural electricity consumers compared with Sh 955 mm in 2003.
By July 2004, the number of customers connected to the national grid under the Rural Electrification Programme rose by 6.8 % from 87,175 in July 2003 to 93,083. Electricity sold to REP increased by 2.1 % from 153.2 kWh in 2003 to 156.5 kWh in 2004.

Source: The East African Standard
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