Regional oil marketer KenolKobil has put some of its assets in - TopicsExpress

Regional oil marketer KenolKobil has put some of its assets in Kenya up for sale, in a fresh bid to overturn its fortunes following disputes with rivals and the oil refinery. The firm is selling its depots in Kisumu, Eldoret and Sagana to raise money to settle expensive debts as it continues to search for a new strategic investor. KenolKobil owes the Kenya Petroleum Refineries Ltd Ksh1.2 billion. Late last month, Kenya’s Ministry of Energy suspended KenolKobil from the competitive open tender system as a buyer and seller, over the refinery debt and failure to lift 19,610 tonnes of fuel produced by the plant in Mombasa.

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