KenolKobil
 |
|
| Public | |
| Traded as | KN: |
| Industry | Oil and gas |
| Founded | 13 May 1959 |
| Founder | R S Alexander |
| Headquarters | Nairobi, Kenya |
|
Area served
|
Africa |
|
Key people
|
James Mathenge Chairman of the Board David Ohana Group Managing Director |
| Services | Fuel stations |
| Revenue |
 KES: 91.32 billion (2014)
|
| Profit |
 KES: 1.09 billion (2014)
|
| Total assets |
KES: 15.49 billion (2014)
|
| Total equity |
KES: 7.33 billion (2014)
|
| Website | Homepage |
KenolKobil Limited is a pan African downstream oil company. The group's operations span seven countries across Eastern, Central and Southern Africa and encompass the supply, storage, distribution and retail of a wide range of petroleum products.
KenolKobil's headquarters are in Nairobi, Kenya with subsidiaries in Burundi, Ethiopia, Kenya, Mozambique, Rwanda, Uganda and Zambia.
According to the Petroleum Institute of East Africa's report released in December 2014, KenolKobil ranked third with 13.9 percent market share behind Total Kenya and Vivo Energy.
KenolKobil, then Kenya Oil Company Limited (abbreviated Kenol), was founded on May 13, 1959 by R S Alexander as a Private limited company. The Company started its operations as a wholesaler of packaged Kerosene under the brand name "SAFI". The company later began investing in service stations. In September 1959, Kenya Oil Company listed its shares on the Nairobi Securities Exchange making it the first petroleum company to be quoted on the exchange.
In the early 1980s, Kenol faced numerous financial challenges and was placed under receivership. The company came out of receivership in 1983 and its shareholders resumed full control of the business. In 1986, Kenol and Kobil Petroleum Limited, a Delaware registered holding company that acquired Mobil Oil's assets in Kenya and Uganda in 1984, entered into a joint operations and management agreement. This agreement resulted in the sharing of distribution cost and managerial services thus enabling both companies to lower their operating costs and enhance profitability.
The year 1999 marked the beginning of regional expansion. That year, the group acquired a 100% stake of Galana Oil Uganda Limited and renamed it Kobil Uganda Limited. At the point of acquisition, Kobil Uganda owned 19 service stations. In 2001, Kenol expanded into Tanzania through the incorporation of Kobil Tanzania Limited as a wholly owed subsidiary. The group expanded further south in 2002 when it acquired 100% interest in Jovenna Zambia Limited and renamed it Kobil Zambia Limited.
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Wikipedia