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Kenya’s top five oil marketers increased their market share by five percentage points in the first three months of 2022.
The latest data from Petroleum Institute of East Africa (PIE), the professional body for the oil and gas industry in the region, shows that sales by the top five companies rose to 66.37 per cent in the first three months compared to 61.34 per cent in 2021.
This extended the dominance of the five oil marketers who had a combined market share of 59.94 per cent in 2020.
“The figure rose to 61.34 per cent in 2021, indicating waning growth in mid-tier companies,” said PIE in a presentation yesterday during a forum that was graced by Petroleum and Mining PS Andrew Kamau (pictured).
The changes in the market share at a time when the country has been implementing the fuel subsidy programme which, at some point, occasioned a shortage of petroleum products which hurt the small retailers the most.
The presentation shows that Vivo Energy, the retailer of Shell-branded fuel products, increased its market share to 32.9 per cent in the second quarter from 32.3 per cent in the 12 months to December 2021.
However, French-based TotalEnergies Marketing Kenya lost its market share to 22.2 per cent from 23.2 per cent, though it made up for this by increasing its export sales.
Another French company, Rubis, which also owns Gulf, increased its market share to 12 per cent from 10.1 per cent while Ola’s remained unchanged at 6.9 per cent.
Ironically, National Oil Company, which was started with the objective of stabilising prices, was the biggest loser, shedding its market share from 3.2 to 1.5 per cent.