In this article, we highlight some of the key recent developments in East Africa amid the Covid-19 outbreak. The article looks at how governments and private sector companies in the region continue to pursue major economic projects across key sectors, while addressing the challenges they are facing in light of the COVID-19 pandemic. Tanzania Government […]
A pump attendant fuels a vehicle at Total Kimathi Street in Nairobi on February 14, 2020. Industry players say local prices are expected to drop significantly by May or June. PHOTO | FILE | NATION MEDIA GROUP As the world oil industry goes through a price turmoil, Kenyans can look forward to reaping some benefits, […]
THE Balance of Payment of the East African Community (EAC), member states are expected to improve due to the global fall of oil prices. The BoP per each member states, minus South Sudan-net oil exporter-since they spend considerable amount for importation of petroleum products. Though most of the EAC countries are buying refined products but […]
The Prime Minister Boris Johnson. FILE PHOTO | NMG Britain will hold a major sub-Saharan Africa investment conference on January 20. It will be hosted by British Prime Minister Boris Johnson and by the Department for International Development (DFiD) on January 20. The aim is to bring together businesses, governments and international institutions to showcase […]
KenolKobil station in Nairobi. FILE PHOTO | NMG KenolKobil’s acquisition by French multinational Rubis Energie and the quest by top banks Equity #ticker:EQTY and KCB #ticker:KCB to expand in the region topped the chart of corporate deals in 2019, with their business impact expected to be felt from next year. Rubis completed the acquisition of […]
The Triton Petroleum Company’s oil scandal remains the biggest blot on State-run petroleum distributor Kenya Pipeline Company’s (KPC) troubled past. Triton boss Yagnesh Devani was indicted for colluding with KPC staff and using political connections to defraud oil marketers and financiers more than Sh7 billion worth of petroleum products. Mr Devani remains a fugitive in […]
Static margins have forced oil marketers to turn to volumes to grow their earnings. FILE PHOTO | NMG Oil marketers are expecting the government to raise their profit margins this year, a move that will boost their earnings. Petroleum price controls started in December 2010 when the maximum margin per litre was set at Sh6 […]
Kenya’s government on Monday faced a strike, anger among commuters and a lawsuit after it triggered a hike in transport and fuel prices by imposing a 16 percent value added tax on all petroleum products. Suppliers stopped transporting fuel from depots to gas stations due to the strike by the Kenya Independent Petroleum Dealers Association […]
Reuters Kenyan fuel tax causes anger, petrol dealers strike NAIROBI, Sept 3 (Reuters) – Kenya’s government on Monday faced a strike, anger among commuters and a lawsuit after it triggered a hike in transport and fuel prices by imposing a 16 percent value added tax on all petroleum products. Suppliers stopped transporting fuel from depots […]
Jean Philippe Torres appointed new Total Kenya Chairman/FILE He takes over from Jean Christian Bergeron another French national who has resigned from the position he has held since September 2015. No reason for his resignation has been disclosed. Torres is a finance graduate of the University of Lille, obtained a masters in finance from the […]
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