The three oil majors recorded a slight decline in their combined share of the local fuel market, bucking a trend where they have been deepening their control and squeezing small dealers.
Industry data from the Energy and Petroleum Regulatory Authority (Epra) shows that the combined market share of Vivo Energy, TotalEnergies Marketing and Rubis controlled half of the sector as of December, a drop of 1.04 percentage points six months earlier.
The marginal drop came amid an aggressive push by the small dealers and the entry of others to tap into the growing Kenyan fuel market.
An analysis of the Epra data shows that Vivo Energy, the market leader, posted the biggest drop in its share by 1.04 percentage points to 22.89 percent in the period while that of TotalEnergies Marketing fell to 16.39 percent from 17.3 percent.
Stabex Oil is the local dealer whose share grew highest by 2.19 percentage points to 3.84 percent in the period followed by Oryx Oil whose share increased 1.35 percentage points to 5.51 percent.
Rubis Energy Kenya is the only member of the top-three club whose market marginally increased in the period as the share rose 0.91 percentage points to 10.93 percent in December.
The top three oil firms are well-oiled and have over the years been growing their share and squeezing the local dealers. The multinationals for example benefitted from the struggles of small dealers to access super, diesel and kerosene last year.
Rubis Energie, the parent firm of Rubis Kenya disclosed that it “exceptionally benefitted from the closure of small independent stations” during the fuel shortage that hit Kenya in March-April last year.
The oil majors are currently caught up in an expansion drive in the fight that led to the opening up of new retail stations along major roads and urban centres in the push for control of Kenya’s growing fuel market.- Business Daily
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