Kenya and Norway have announced that they are considering entering into a long term agreement Petroleum on effective and socially responsible management of petroleum resources.<\/p>\n
This was revealed as President Uhuru Kenyatta met with the new Ambassador to Kenya Victor Conrad Ronneberg who presented his credentials at State House\u00a0 Nairobi on Tuesday.<\/p>\n
This will be a continuation of the ongoing partnership between the two countries on issues of best practice in managing natural resources.<\/p>\n
\u201cWe are considering a long-term agreement with Kenya\u2019s Ministry of Energy and Petroleum on effective and socially responsible management of petroleum resources,\u201d Ronneberg said<\/p>\n
Ronneberg added that Norway looks into increasing business relations with Kenya which has already increasing twenty fold within the last years mainly within retail, telecom and financial services.<\/p>\n
President Kenyatta said Kenya will benefit from cooperation with Norway in managing the newly discovered petroleum resources terming the European nation a role model on how to manage revenues in the sector.<\/p>\n
Norway maintains the largest sovereign fund in the world currently estimated to be over $884 billion, owns 1% of the entire world’s stocks, and is big enough to make every citizen a millionaire in the country’s currency, the kroner.<\/p>\n","protected":false},"excerpt":{"rendered":"