Oil marketing firm Vivo Energy continues with its hold on Kenya’s oil marketing industry. According to a report released by the Petroleum Institute of East Africa (PIEA), Vivo Energy commanded 21.36 percent of all petroleum sales in 2024.
Rubis Energy and Total Energies follow closely, at 16% and 15%, respectively. Ola Energy comes in a distant fourth place, with 4.8% of the overall market share. “The top 15 companies had a combined overall market share of 71.86 percent compared to 73.1 percent in 2023,” reads a section of the report.
Other oil marketing firms that shared the spoils BE Energy, One Petro, Galana, Stabex, and Hass among others.
In the retail sector, Vivo Energy maintained its lead at 31.2 percent, followed by Total Energies with a 20.6 percent market share. Rubis Energy and Ola Energy raked in 15.8 percent and 5.8 percent of the retail market. Oryx on the other hand led in the resellers’ category with an 8.26 percent share, followed by Petro and Dalbit at 7.7 percent and 7.3 percent respectively. Gapco concluded the top four resellers market with a good showing of 7.2 percent of the market.
“The retail segment declined by 0.3 percent in 2024 compared to 2023 with the resellers segment also declining by 2.1 percent in the period,” the report says. PIEA also notes in the report that retail outlets continue to dominate the oil market commanding over 50 percent of total product consumption. Resellers and the civil aviation segments take up 17.1 percent and 15 percent apiece while transport and communication control only 8.2 percent.
“Petroleum consumption in 2024 increased by 2 percent attributed to the growth in consumption of AVGAS, Jet A1, Fuel oils and lubricants,” adds PIEA.
LPG demand in the year under review recorded a 15 percent growth compared to 8 percent in 2023, while demand for kerosene registered a 24 percent decrease.