Kobil acquires 10 service stations in Burundi
By Chiwoyu Sinyangwe
Fri 05 Feb. 2010, 04:00 CAT
KENYAN oil marketer KenolKobil which trades in the country as Kobil Zambia has acquired 10 service stations in Burundi as part of its regional expansion programmes. Last month, KenolKobil through Kobil Zambia raised its stake in Ndola-based lubricants blending firm Lublend through acquiring the 10.5 per cent stake previously owned by Chevron.
KenolKobil public relations manager Charles Njogu said KenolKobil had acquired the service stations previously owned by Societe d'Importation et de Commercialisation de Produits Petroliers (SICOPP).
Njogu said the acquisition through a long-term lease came barely after four months after the subsidiary, Kobil Burundi, took effective control of the assets KenolKobil acquired from Oil Burundi S.A.
He explained that the newly acquired stations which were spread across the country including three major towns of Bujumbura, Gitega and Ngozi would raise Kobil Burundi service stations to 14 following earlier acquisitions of three service stations from Sonitra Limited and another from an independent player.
“KenolKobil maintains its long-term positive outlook for the Burundi economy and its political instability and further will continue to explore growth opportunities in this market and other markets in Africa,” said Njogu.
Last month, Kobil Zambia said its lubricants business in Zambia had grown by 47 per cent since 2008, fueled by increasing demand from the mining, industrial, transport and construction sectors.
Kobil Zambia's stake in Lublend had increased to 25.5 per cent from the initial 15 per cent acquired from Total Zambia in 2008.
KenolKobil stated that the increase of its shareholding in Lublend fitted in its strategy of diversifying its business in the region adding that the move would strengthen the company's market share in the robust lubricants business in the country.
Labels: BURUNDI, KOBIL ZAMBIA LTD
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Kobil raises stake in Ndola-based lubricants firm
By Chiwoyu Sinyangwe
Wed 20 Jan. 2010, 04:00 CAT
KOBIL Zambia has raised its stake in Ndola-based lubricants blending firm Lublend through acquiring the 10.5 per cent stake previously owned by Chevron.
Kobil Zambia, which is a subsidiary company of KenolKobil, Kenyan oil marketer, said its lubricants business had grown by 47 per cent since 2008, fueled by increasing demand from the mining, industrial, transport and construction sectors.
Following the acquisition, Kobil Zambia's stake in Lublend has increased to 25.5 per cent after an initial acquisition of 15 per cent from Total Zambia in 2008. The acquisition was done with a blessing from KenolKobil.
And KenolKobil stated that move fitted in its strategy of diversifying its business in the region adding that the move would strengthen the company's market share in the robust lubricants business in the country.
“The new acquisition will give the KenolKobil Group more control of the management of the plant and will also give it more representation in the company's board,” the firm stated.
“The move will strengthen the company's market share in the robust lubricants business in Zambia.”
Commenting on the development regional support manager Patrick Kondo said the additional shareholding in Lublend Limited would help KenolKobil to get more control in the blending company.
Kondo said the move would strengthen the company’s market share in the lubricants business in the country and was in line with their diversification strategy.
He said the approach had seen the company nearly double its retail network in Zambia to over 25 within the last two years.
“The new acquisition will give the Group more control of the management of the plant and will also give it more representation in the company’s board,” Kondo said.
“Together with its recent entry into supplying the mining sector, Kenol Zambia is seeking to consolidate its market position as the number three oil company in Zambia.”
Kondo disclosed that there were plans to intensify Kenol Zambia’s interests in the mining sector within the Copperbelt region and help it reduce the dominance by the multinational oil companies.
“Kenol Zambia is looking beyond the Zambian borders to the export markets of the Lubumbashi area of DR Congo, Zimbabwe and Malawi,” said Kondo.
In the third quarter of last year, the Nairobi-based company assumed effective control of its subsidiary in Burundi making it the seventh member in the KenolKobil Group.
Labels: BUSINESS, KOBIL ZAMBIA LTD
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Kobil director urges caution on biofuels
By Joan Chirwa
Thursday July 03, 2008 [04:00]
ZAMBIA needs to exercise extreme caution in the production of biofuels as prices of crude oil continue to skyrocket, Kobil Zambia Limited managing director Jerry Thomas has said. And Kobil Zambia Limited, a wholly owned subsidiary of Kenol Group, has sealed a long-term fuel supply deal with Albidon Mining Limited involving between 3 and 4.2 million litres of low sulphur diesel.
Responding to questions after a press briefing in Lusaka on Tuesday, Thomas said government and stakeholders needed to look at long term benefits of biofuels while securing the country’s food reserves.
“Biofuels are a good option but we need to be extremely careful about making decisions,” said Thomas.
The rising prices of crude oil, which reached a record high of US $143 per barrel on Monday, will ultimately see the emergence of biofuel production in most oil importing countries, Zambia inclusive.
The government has already revised the energy policy, which has taken into account the bio fuels sector while the Energy Regulation Board (ERB) a couple of months ago issued standards for biodiesel and production is awaiting government’s authorisation.
And Thomas said the fuel supply agreement between Kobil and Munali Nickel Mine was part of the company’s aggressive plan to penetrate the mining sector in Zambia.
“The mining sector in Zambia and the southern African region has been registering impressive growth due to favourable metal prices on the international market,” said Thomas.
And Kobil Zambia has acquired 15 per cent shareholding in Lublend Limited, a lubricants blending plant in Ndola.
Thomas said the acquisition of some shares in Lublend would lead to a slight reduction in prices of lubricants on the local market.
Kobil Zambia had been importing lubricants from its sister company in Kenya and Thomas said the trend was delaying product supply on the local market.
Labels: BIOFUELS, FUEL, KOBIL ZAMBIA LTD
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