• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Dutch oil marketer Lexo Energy launches in Nairobi

samrack by samrack
July 18, 2017
in Business, Diaspora, Kenya, Kenya Diaspora News, News, Politics, U.S Diaspora
A A
0
Dutch oil marketer Lexo Energy launches in Nairobi
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
Lexo Energy is the latest oil marketer to join the Kenyan market. PHOTO | FILE | NMG 

Dutch oil marketer Lexo Energy launches in Nairobi

A Netherlands-based company has launched operations in Kenya, making Nairobi its second African destination.

Lexo Energy, the latest oil marketer to join the Kenyan market, is backed by a multi-billion-shillings war chest with which it plans to open up to 25 new petrol stations this year.

The entry bucks a recent trend in which Western multinationals have been exiting Kenya’s (and Africa) petroleum retail market to focus on upstream operations.

Besides Kenya, Lexo Energy has operations in Mauritius in Africa.

“We plan to have between 15 and 25 petrol stations before the end of the year,” Lexo Energy Nairobi office manager Koki Mulwa said on phone.

The company recently opened two stations in western towns of Mumias and Busia, and is now racing towards setting up retail operations in Nairobi and other big towns.

Lexo Energy, however, did not disclose its expansion budget, but estimates from the energy sector regulator put the cost of a stocked petrol station at about Sh100 million.

This means the new 25 stations could cost Sh2.5 billion.

Lexo Energy’s entry comes at a time when Anglo-Dutch firm Shell, also headquartered in Netherlands, is exiting the local retail market with the planned sale of its stake in Nairobi-based Vivo Energy— Shell licensee in 16 African markets.

Shell plans to sell off its remaining 20 per cent stake in Vivo Energy to Vitol, another Dutch company, for $250 million (Sh25.7 billion) in its divestment process that began in 2011.

Kenya had 75 oil marketing companies by end of last year, which import petroleum, retail at the pump and re-export some of their cargo to Uganda and Rwanda.

The oil marketers have in the recent past complained of thin margins despite an upward trend in operation costs. The current margins of Sh7 a litre for wholesale and Sh3.89 for retail were last reviewed upwards three years ago.

Source: http://www.nation.co.ke/

 

Tags: Dutch oil marketer Lexo Energy launches in Nairobi
Previous Post

Moody’s accords Equity Bank first-time ratings of B1, Stable Outlook

Next Post

Change of plans! Bride feeds 170 homeless people after her $30,000 wedding is called off

Related Posts

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026
Business

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026

June 22, 2022
Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work
Diaspora

Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work

June 22, 2022
Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony
Diaspora

Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony

June 22, 2022
Untold Stories of How Thika Road Estates Got Their Names
Business

Untold Stories of How Thika Road Estates Got Their Names

June 22, 2022
President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review
Kenya

President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review

June 22, 2022
Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.
Business

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

June 22, 2022
Next Post
Change of plans! Bride feeds 170 homeless people after her $30,000 wedding is called off

Change of plans! Bride feeds 170 homeless people after her $30,000 wedding is called off

Please login to join discussion
Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply. Job Openings Below is a list of current job openings at Northeast Clinical Services, Inc.. Please click on an opening in the list to view details and apply.
ADVERTISEMENT
ADVERTISEMENT

Latest News

Kenya Airways Subsidiary Fahari Aviation To Receive Embraer Eve eVTOL Aircraft From 2026

Kenyan Nurse Given a Three-story Home in Lebanon, Pennsylvania After Volunteer Work

Uhuru’s Daughter Ngina Kenyatta Ties the Knot in a Traditional Wedding Ceremony

Untold Stories of How Thika Road Estates Got Their Names

President Uhuru Rejects To Assent Into Law ICT Bill, Opting To Send It Back To Parliament For Review

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

IEBC set to make corrections to voters’ register

Kenya cannot ban Mitumba without upsetting the US,Just ask Rwanda

Transition/Death Announcement of Francis Kagumba Mwenenia (Father to Pastor Naomi Kagumba (Lowell,MA ) of St Stephen’s Church Dracut,MA

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs, Nairobi county.

by samrack
June 22, 2022
0

Police in Nairobi recovered 22 firearms and 565 rounds of ammunition during an auction mission on Tuesday in Kilimani suburbs,...

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

George Wajakoya’s Running mate: Who is Justina Wangui Wamae

by samrack
June 9, 2022
0

She has risen to prominence, following her selection as a running mate for one of the only four presidential candidates...

  • About Us
  • Archives
  • SWG Registration

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2021 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 0.934 seconds. Stats plugin by www.blog.ca