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Announcements...20-May-09: Share Split: 10 to 1 • Books close: 1-Jun-10
3-Nov-08: Interim Dividend: 2.50/= • Payment: 9-Dec-08
26-Sep-07: Interim Dividend: 1.50/= • Payment: 15-Nov-07
Discuss KenolKobil Ltd• Kenol-Kobil;Fundamentals or sentiment? Akili Ni Mali • Jul 25, 2010 (4 replies)
• KENYA OIL CO LTD Geoyhang • Jul 16, 2010 (no replies)
• KENOL Edu • October 2007 (2 replies)
• Standard Group Steve • March 2008 (no replies)
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1.00Segment: Main Investment Market
Sector: Industrial And Allied
Brief Company Profile
ICEA Building Kenyatta Avenue Nairobi, Kenya +254-20-2249333 (Phone)
+254-20-2218274 (Fax)
Company website:
http://www.kenolkobil.com
News Releases | Corporate History/Profile | Executives | Products/Services
Updated: Sun, September 21, 2008
Business Performance
Kenol is one of the main companies dealing in petrol and petroleum products and its market presence extends into East Africa and the COMESA region. It is active in Uganda, Tanzania, Rwanda and Zambia. Its regional presence has, to some extent, enabled it to minimize the impact of the cutthroat competition that prevails locally, both from multinationals and independent dealers. Until recently, the industry has been characterized by rising oil prices which have led to diminished margins for petroleum dealers; further price strain has been added by the additional KES 3.20 per litre levy on petroleum introduced in the 2006/07 fiscal year. Moreover, the Government stands in the way of the industry's efforts to realize higher margins by maintaining petroleum prices as high as possible. Overall, however, the current decline in oil prices is a boost to the industry in general and Kenol in particular as it enables firms to retain their profit margins at lower prices. Consequently, the future profitability of the firm largely depends on trends in future oil prices and its market expansion initiatives.
Financial performance in the first half of 2005/06 financial-year was reflective of reduced operating margins and increased financing costs. The company's revenues grew by 34% to KES 25.00 Billion while both operating and net profit declined by 35.8% and 29% to KES 601.60 Million and KES 404.30 Million respectively. The firm continues to be heavily reliant on short-term borrowing with short-term debt standing at KES 1.97 Billion compared to a long-term debt of KES 330.00 Million.
Future Prospects
The firm's growth is expected to continue mainly due to regional expansion and cost cutting initiatives. Future trends will also be impacted on the direction of oil prices, which will in turn impact on the margins on petroleum products. Consequently, a large portion of the future growth is likely to emanate from rising volumes as opposed to high margins.
Updated: Sat, November 4, 2006
• Triton Deal Costs KPC Sh4.6 Billion (19 Jan 2010)
Kenya Pipeline Company will pay oil dealer Kenol/Kobil Sh4.6 billion over breach of agreement in fuel storage.
• The Cutting Edge (22 Sep 2009)
The contractor building the Murang'a-Kenol road failed to complete the last 10 kilometres that Martha M. recently complained was very rough because he was asked by the Ministry of Roads to stop following a dispute with the local council, says Fameen...
• Kenol Issues Profit Warning (22 Jul 2009)
KenolKobil on Wednesday issued a profit warning weeks after listed competitor, Total Kenya, announced massive drop in its quarter one profit.
• Oil Dealers Increase Local Pump Prices (07 Jul 2009)
Oil marketers Total, Caltex, Shell, Kenol and Kobil have increased the retail cost of refined fuel citing an escalation in the price of international crude oil.
• Rising Costs Undermine Kenol's Regional Gains (29 May 2008)
The formalisation of a come- we- stay marriage by Kenol and Kobil last year has gone down well for investors with the company's performance at the Nairobi Stock Exchange (NSE) sustaining a bullish run since then.
• Technical Hitch Hurts Fuel Firms (13 May 2008)
A technical hitch saved Nairobi motorists from digging deeper into their pockets after Kenya Oil Company petrol pumps failed to adjust past Sh100 per litre of fuel.
• Kenol's Post Merger Profits Grow At Snail Pace (06 May 2008)
Kenya Oil Company (Kenol) yesterday announced a six per cent profit increase in its half year results for March 2008, as it plans to press on with its expansion drive to regain lost market share.
• Petroholdings Sells Its Shares in Kenol to Foreign Investor (20 Feb 2008)
Oil marketer Kenya Oil Company (Kenol) saw its main shareholder, Petroholding Limited, sell off part of its holding to a foreign investor in order to come in line with the required regulation and to cash in on capital gains.
• NSE Okays Listing of Kenol, Equity Bank Shares (10 Dec 2007)
The board of the Nairobi Stock Exchange (NSE) has approved the listing of Kenya Oil Company Ltd's (Kenol) 45,480,000 ordinary shares.
• CMA Finally Allows Kenya Oil to Buy Up Kobil's Assets (03 Dec 2007)
Kenya's Capital Markets Authority's has approved the acquisition of Kobil's Kenya assets by Kenya Oil Company Ltd (Kenol).
• Kenol Investors to Reap Sh151m From Acquisition (27 Nov 2007)
Oil marketer Kenya Oil Company (Kenol) has prepared a Sh151 million special payment to its shareholders as a sweetener for them to agree to the acquisition of Kobil Petroleum Limited.
• CMA Okays Kobil's Takeover (26 Nov 2007)
The Capital Markets Authority has authorised the acquisition of Kobil Petroleum Limited by Kenya Oil Company Limited (Kenol).
• Petrol Prices Shoot Up Again (24 Oct 2007)
The cost of oil products has hit a new high in Nairobi with Total, Kenol and Kobil increasing pump prices by Sh1 per litre.
• Kenol's Alert to Traders (22 Oct 2007)
Kenya Oil Company Limited is warning its shareholders to trade cautiously with the company's share, three days after Finance minister approved its acquisition of Kobil Petroleum Limited.
• Kenol's Bid to Acquire Kobil Gets Govt's Approval (19 Oct 2007)
The Government has allowed the Kenya Oil Company Limited (Kenol) to acquire Kobil Petroleum Company.
• Pump Prices Go Up (19 Oct 2007)
The cost of petroleum products hit a new high in Nairobi yesterday, when Kenol/ Kobil effected a pump price increment of Sh1 per litre.
• Kenol/Kobil Appoints New Directors to Drive Expansion Strategy (09 Oct 2007)
In a strategic move meant to consolidate the company's position as the leading player in Africa's down and midstream oil market, Kenol/Kobil has appointed new members to its board.
• Kenol Takes Over KLSS (26 Jan 2007)
Kenya oil Company (Kenol) has concluded a deal permitting it to take over KLSS, one of the leading fuel firms in Rwanda. The deal that was concluded recently, gives Kenol, the Kenyan company a green light to acquire KLSS's entire retail networks. KLSS...
• Oil Firm Wins Sh3 Billion Kengen Tender (08 Dec 2006)
Kenol Kobil has beaten five other oil companies to clinch a Sh3 billion fuel supply tender to Kengen.
• Kenol Injects $1 Million in Refurbishment of Stations (27 Nov 2006)
The Kenol/Kobil Group is set to spend $1 million to refurbish all their petrol stations in the country, after the giant oil company took over the Shell operations in Rwanda in February this year.
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