Kenya’s National Oil Corporation posts profit

huge-profits14 March 2014, Nairobi – Kenya’s National Oil Corporation has announced a Sh348 million profit for financial year 2012/2013 which it has attributed to wider branch network and bigger capacity for handling of Liquefied Petroleum Gas.

Noc which posted a turnover of Sh25 billion said its targeting to further grow its network during this financial year from the current 110 stations to 165 countrywide.

“We are pleased to post profit in a rather challenging year for the oil industry as sales dipped during the election period and due to the increased dumping of export fuel products in the local market,” said CEO Sumayya Hassan-Athmani.

The firm recently introduced a 3-kilo LPG cylinder dubbed ‘super kadogo’ targeting the low end consumers to get more of these users out of the illegal gas refills black market and into mainstream LPG market.


– The Star

About the Author