Country News for Kenya

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.