NAIROBI, KENYA – In a significant shift in Kenya’s oil industry, Rubis has surpassed TotalEnergies to become the country’s second-largest oil marketer. According to data from the Energy and Petroleum Regulatory Authority (Epra), Rubis’s market share rose to 15.56% as of June, eclipsing TotalEnergies’ 15.06% stake.
Vivo Energy, retailer of Shell-branded petroleum products, maintained its market lead with a 22.24% share. The top three players now control approximately 52% of the market, as indicated by the Herfindahl-Hirschman Index (HHI).
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Rubis’s expansion and strategic partnership with the National Oil Corporation of Kenya (Nock) contributed to its growth. The company’s revenues increased 8% to €488 million (Sh67.38 billion) in the six months ended June.
In contrast, Vivo Energy’s revenues dipped 2% to $769 million (Sh99.19 billion). Other players, including Ola Energy and Oryx Energies, lost market share.
This development underscores the competitive landscape of Kenya’s oil market. Industry analysts predict further consolidation and strategic partnerships as companies adapt to evolving market dynamics.
Rubis’s market share gain is attributed to its aggressive investment in Kenya’s oil sector, enhancing its distribution network and expanding its retail outlets. TotalEnergies’ decline is largely due to increased competition and market pressures.
The shift in market share is expected to influence the Kenyan oil industry’s future, with potential implications for consumers, investors, and stakeholders. Kenya’s oil market continues to evolve, driven by changing consumer demands, regulatory adjustments, and the entry of new players.
