CS Wandayi Calls Emergency Meeting With Oil Marketers Amid Global Supply Concerns

Opiyo Wandayi has called for an emergency meeting with oil marketing companies following growing concerns about global fuel supply disruptions.

The Cabinet Secretary made the announcement on March 10 during the official listing of Kenya Pipeline Company on the Nairobi Securities Exchange. 

While responding to questions from journalists, Wandayi said the meeting would take place later in the day and would bring together major oil marketers operating in the country.

According to the CS, the purpose of the meeting is to review the current fuel supply situation and ensure that the country remains adequately supplied despite rising tensions in the global oil market.

Wandayi moved quickly to calm fears of a possible fuel shortage, assuring Kenyans that the government is closely monitoring the situation and taking steps to secure the country’s energy needs.

“There should be no cause for alarm,” he said, noting that the government has already started engaging international partners involved in the government-to-government oil supply arrangement.

Under the G-to-G fuel supply deal, Kenya imports petroleum products directly from major oil-producing countries through agreements with national oil companies.

One of the key partners in the arrangement is Saudi Aramco, which supplies crude oil and refined petroleum products to several countries around the world.

Wandayi revealed that the government is currently in discussions with countries involved in the G-to-G deal to ensure that Kenya continues receiving sufficient fuel supplies even as global tensions threaten key shipping routes.

The move comes at a time when the situation in the Middle East has become increasingly unstable.

Iran recently warned of the possible closure of the Strait of Hormuz, one of the world’s most critical oil transit routes.

The Strait of Hormuz is responsible for about 21 percent of the global oil supply, making it one of the most important passages for international energy trade.

Any disruption along the route could affect oil shipments across the world and potentially push fuel prices higher.

Because of this risk, Wandayi said the Kenyan government is putting contingency plans in place to protect the country from possible supply disruptions.

The emergency meeting with oil marketers is expected to focus on stock levels, supply timelines, and coordination between the government and private sector players in the energy industry.

Energy experts say such early consultations are important because they help governments respond quickly to global market changes before shortages occur.