Kenya has over 70 registered oil marketing companies operating more than 1,800 service stations countrywide Thayu Kabugi Kamau was one Kenyan billionaire who ventured into the oil market through Astrol Petroleum CompanyKabugi hailed from Muringu village in Murang’a county and was a close ally of Kenya’s founding president Jomo KenyattaOil marketing in Kenya dates back to colonial times in the 1900s when Royal Dutch Shell established the first depot at Shimanzi, Mombasa county.
Thayu Kabugi founded Astrol in 2000. Photos: Astrol/BD.
Source: UGCThe sector has grown tremendously, with over 70 registered oil marketing companies operating more than 1,800 service stations, according to the Kenya Petroleum Industry Report.
Thayu Kabugi Kamau was one Kenyan billionaire who ventured into the oil market through Astrol Petroleum Company.
Kabugi died in 2019 leaving behind immense wealth. Business Daily reported he was the proprietor of the firm and was a strict businessman who loved discipline.
The tycoon served as the chairman of the company until February 20, 2019, when he lost his life at aged 94 at Nairobi Hospital.
Kabugi hailed from Muringu village in Murang’a county and was a close ally of Kenya’s founding president Jomo Kenyatta according to Who Owns Kenya.
The billionaire established the oil firm in 2000. It has filling stations across the country and has employed over 300 people.
Astrol is now managed by Kabugi’s son James Mwangi as the managing director. Mwangi recalled he learnt the art of leadership from his late father.
“My late dad had been an entrepreneur in the oil industry and so I started assisting him with some of his work before going to university to study international business administration. After I graduated I decided to continue with him rather than get another job,” he said.Hass Petroleum foundersEarlier, TUKO.co.ke reported Hass Petroleum is one of the top oil companies in Kenya, controlling a market share of 2.06% according to the Energy and Petroleum Regulatory Authority (EPRA).
In the financial year ended June 2022, the oil marketer sold 118,330 cubic metres of oil under the open tender system (OTS).
The company was founded in 1997 by two brothers; the late Abdirizak Ali Hassan and Abdinasir Ali Hassan, who serves as its chairman.
Growth in Vivo Energy salesin other news, Vivo Energy Kenya has been growing its sales and market share.
In 2019, Vivo Energy Kenya had a market share of 12.3%, falling behind other oil companies such as Total Energies.
Source: Tuko.co.ke | Read More
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