Kenya Says Tullow Asset Sale ‘Raises Concern’ for Oil Sector

Kenya lawmakers said a lack of detail over Tullow Oil Plc’s sale of oil assets to local company Gulf Energy “raises concerns” for the industry in the East African nation.

Tullow ended a decade-long quest to develop discoveries in April, when it sold the inland fields for $120 million to Gulf Energy, a Nairobi-based oil and gas trader. Tullow has announced divestments in recent months toward reducing its debt below $1 billion this year.