Petrocity reveals Konza’s Oil Facility

Petrocity Enterprises Ltd, a global petroleum trader has unveiled a Ksh 1.5 billion oil terminal that is to be situated at Konza on the Nairobi-Mombasa highway.  

The refinery, whose construction commenced in January 2012, will cater to the country’s growing demand for fuel by increasing supply of petroleum products on the market.

Petrocity Managing Director Aman Kurji pointed out that the country should go for pipeline transportation, which is far much cheaper than truck transportation. Adoption of this form would save the nation Ksh 2 to Ksh 4 per litre thus reducing price at the pump.

The petroleum marketer will use an advanced stock-controlling computerized system established by American Conglomerate Company Honeywell, to offer oil marketers with instant and live stock standings.

The new strategic refinery will compliment the Kenya Petroleum Refineries Ltd (KPRL) in Changamwe, Mombasa.

In other news, Kenol Kobil has issued a profit warning for six months ending June. The Kenyan oil marketer has cited high financing costs, foreign exchange losses, and falling international oil prices to the reduced profit.