Holding us up?Just wondering if this is what's holding up our deal in Kenya.
And that will be costly." Infrastructure aside, the government of Kenya is also taking careful steps to monitor the oil exploration companies. Yesterday, the National Oil Corporation of Kenya announced that it is looking for auditing companies to monitor the multinational companies as things move forward.
Najib Balala, the Cabinet Secretary for Mining, expressed concern over the behavior of the oil companies, claiming they were selling off license agreements without any oil being produced.
He also said that he was suspicious of companies boosting the estimates of their mineral finds to increase their stock market value. Cortec Mining, who recently announced huge deposits of niobium, had their license revoked. As the oil sector continues to assess the marketability of its findings, the government's increased monitoring will likely slow down the progress already made.