Country News for Kenya

KenolKobil Would like to announce to all stakeholders that, contrary to a report in a section of the media, the company’s operations across all countries it operates in, remain very solid, are running well, while meeting all customer expectations. (For more information, please click on above link)

Our attention has been drawn to an article published in the Standard of today, August 3, 2010 under the headline Marketers dare KenolKobil to pull out of Kenya. (Click on the link above to upload full report)

CNBC Africa TV Interview with KenolKobil Limited Chairman and Group Managing Director Mr. J I Segman. (Please click on below link to watch interview) 

KenolKobil has registered a company in Mozambique, Kobil Mocambique Limited, to facilitate investment in Mozambique and to use this as a vehicle for arising opportunities in the near future.

The Kenya Government, through the Ministry of Energy, has instructed KPRL to release with immediate effect, all KenolKobil’s Products entitlement it was withholding since 13th July 2010. (click on link above for full report)

We would like to issue a rejoinder following an article published in the Business Daily of Thursday, July 15, 2010 under the headline “KenolKobil locked out of processing crude oil at KPRL”. (please click on above link to download full news item)

Our attention has been drawn to two articles appearing in some sections of the media, the Daily Nation issue of 13th July, 2010 titled Kobil to pay former dealer Kshs 7 Million for losses, and another which appeared in the Business Daily of 14th July, 2010 titled Kenolkobil ordered to pay trader Kshs 7 Million. (please click on above link to download full news item)

KenolKobil Management projects that the 1^st Half 2010 financial results will be considerably better than 2009, signaling a possible strong performance by the Group forecast by end of the Financial year, December 2010. (please click on above link to download full news item)

The Petroleum Institute of East Africa’s Chairman has, during celebrations to mark the second Graduation Ceremony of the School of Petroleum Studies, asked the Government to review the current petroleum industry infrastructure. (please click on above link to download full news item)

KenolKobil’s claim from the Kenya Petroleum Refineries Limited (KPRL) with regard to the business losses the company has suffered as a result of gross inneficiencies by KPRL has risen to KShs.4.9 billion as at the close of May 2010. (please click on above link to download full news item)

We would like to draw your attention to an article published in today’s Daily Nation. The contents of the article are misguided, and are a deliberate effort to distort a matter of our dispute with the Kenya Petroleum Refineries Limited (KPRL), which is a matter before court. (please click on above link to download full news item)

KenolKobil has this morning held its 51^st Shareholders’ Annual General Meeting (AGM) at the Hilton Hotel, Nairobi. The AGM, which was the best attended ever, witnessed shareholders express their confidence in the growth and the future development of KenolKobil, as well as their strong confidence in the Board and Management of the company. (please click on above link to download full news item)

KenolKobil Limited has re-launched its Commercial Paper programme (CP programme), which was inactive during 2009. KenolKobil Ltd CP programme has been in the market since 2002.

KenolKobil Ltd would like to clarify recent reports in the press citing a Court matter between Kenya Pipeline Company Limited and KenolKobil Ltd over an Arbitral Award.

Over the last two days, KenolKobil has received media queries about the split of KenolKobil Limited shares.

The KenolKobil Group has registered a 47% profit after tax increase for the financial year ended December 31, 2009. In the results released this afternoon, the company realised KShs1.3 billion after tax profit, up from KShs.882 million in 2008. The following is the Group Managing Director's report.

Please visit KENOLKOBIL GROUP RESULTS on this home page to view the full results.

Following the suspension by the Government of the controversial fuel importation inspection fee by the Kenya Bureau of Standards (Kebs), KenolKobil is pleased to announce a reduction of KShs.0.65 per litre across its retail network on all products countrywide.

KenolKobil is pleased to announce that it is importing a private own cargo of 80,000 MT Arab Medium Crude Oil for processing at the Mombasa-based Kenya Petroleum Refineries Limited (KPRL) in response to a fast-growing demand for bitumen and fuel oil supplies, amongst other products.

Following recent reports in the press that British Petroleum (BP) intends to exit its marketing business in Tanzania, Namibia, Malawi, Zambia and Botswana, we have received media queries on our interests in the BP assets in the 5 African countries.

KenolKobil Limited is pleased to announce the acquisition of 10 service station from Societe d’Importation et de Commercialisation de Produits Petroliers (SICOPP) in Burundi.

The KenolKobil Group has strengthened its lubricants business in Zambia by acquiring 10.5% of the shareholding of Lublend Limited, a lubricants blending company in Ndola, Zambia.

KenolKobil Limited has been recognized by the Kenya Ports Authority (KPA) as the Country’s top importer of Petroleum, Oil and Lubricants.

KenolKobil Limited has won the Industry Open Tender for the delivery of Crude Oil and Gas Oil (Diesel) in the month of January, 2010.

KenolKobil Limited has been awarded by the Kenya Revenue Authority for posting the most improved percentage growth in corporation tax payment in the country. The growth is attributable to the growth in the company's profits for 2007/2008 versus 2008/2009.

Following the signing of the Sales Purchase Agreement on August 13, 2009 to acquire Oil Burundi S.A. in Burundi, which company was previously owned by Engen International Holdings (Mauritius) Limited, KenolKobil Limited is pleased to announce that it has now assumed effective control from October 6, 2009 of this new subsidiary.

KenolKobil Limited has signed a Sales and Purchase Agreement to buy the entire shareholding of Oil Burundi S.A., which is owned by Engen International Holdings (Mauritius) Limited.

Kenya Oil Company Limited (Kenol) has formally changed its name to KenolKobil Limited.

The Kenol Board of Directors has revised the exercise period for its Executive Employee Share Ownership Plan (ESOP) options for its Senior Management staff, from exercise period of one (1) year after the vesting period, to five (5) years.

Following Kenol’s 50^th Annual General Meeting held last Friday, May 22, 2009, the company would like to bring to your attention the following issues that were raised by shareholders with regard to its operations in the market.

Kenya Oil Company (Kenol) has this afternoon won two tenders under the Open Tender System supervised by the Ministry of Energy to supply the country’s crude oil requirements for the month of July 2009.

KenolKobil would like to sensitize consumers that local pump prices are expected to rise due a number of factors that determine product prices.

KenolKobil has announced an immediate adjustment of pump prices, from Sh93 to Sh78 for Premium Motor Spirit and Sh88 to Sh73 for Diesel, being a reduction of Sh15 per litre for each product.

The Board of Directors of Kenya Oil Company Ltd (Kenol) has appointed Mr. James Mathenge as a Non-Executive Director from December 1, 2008.

Shareholders are hereby advised that the Company’s financial year end has been changed from 30 September to 31 December.

Kenol Kobil has ventured into a new bitumen packaging method in a bid to reduce bitumen costs and reduce environmental hazards occasioned by the use of drums in bitumen packaging.

Kenol (Kenya Oil Company) yesterday won the tender under the Open Tender System (OTS) to import crude oil requirements for the Country for the month of July just two days after the High Court gave a reprieve against a directive barring it from participating.

Kenya Oil Company Limited has registered an improved performance for the first six months of the 2008 financial year.

Mr. James Gituarah has retired from the Kenol Kobil Group where he has been holding the position of Head of Lubricants Department.

Dear our Kenyan brothers and sisters, over the last two weeks, Kenya has been plunged into unprecedented turmoil following the outcome of the just-concluded general elections results.

The Board has appointed Mr. Terry Davidson as a Non Executive Director with effect from the 25^th day of September, 2007.

In our continued support of our foster home, Mama Ngina Children’s Home, through of Corporate Social Responsibility (CSR) programme, Kenol Kobil has purchased a new van for the home.

The Board of Directors of Kenya Oil Company Ltd wishes to announce the appointment of two new Non Executive Directors with effect from 10th day of August 2007.

Since January 2004 when the Government implemented the open tender system for crude and refined products imports into the country, Kenol/Kobil has fully participated in the tenders and has indeed won any of them.The company has won the tenders on a competitive basis and has continued to import on behalf of the Oil Industry.

On Friday, May 12, 2006 a farewell breakfast was held at The Fairview Hotel in honour of a staff delegation that was traveling to Israel on an oil industry exposure training.   The ceremony was presided over by the Israeli Ambassador H.E. Emmanuel Seri, Kenol/Kobil Group Managing Director Mr. Jacob Segman, and Kenya Country Manager & Assistant Group Managing Director Mr. George Mwangi.

Kenol/Kobil has launched a massive marketing drive, the Weka Thao Ushinde campaign.