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KENOL/KOBIL
Rank: Elder Joined: 9/29/2006 Posts: 2,570
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VituVingiSana wrote:yaserbigchair wrote:ERC SHOULD FOLLOW KPLC'S bills STEP BY STEP! Hating on KPLC will not mean it will drop to 15/-... BTW, please pay your stima bills on time... @vvs, I agree with u! There is need for transparency in the FUEL COST and FOREX Adjustments calculations. Why have these not been posted on the kplc site since sep '09??? Who tracks the fuel used in power generation. Kiraitu/Mwirichia??? Imagine FCA of 419 cts for every KWH in Nov, a rainy month. What will happen when we've lanina? The opposite of courage is not cowardice, it's conformity.
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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International crude prices have hit 90 dollars a barrel,will ERC's formula still keep the prices in the 90s?.These idiots should be addressing areas they can do something about; inefficiencies in the system and hefty taxation.
Populist measures will not take them anywhere.
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Rank: Member Joined: 9/19/2010 Posts: 237 Location: Republic of Graham & Doddsville
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cnn wrote: These idiots should be addressing areas they can do something about; inefficiencies in the system and hefty taxation.
Populist measures will not take them anywhere. You damn right, evidently it's a case of avoiding doing what's right in the long-term and choosing to employ quick fix tactics(which past experience has shown us it's a short-term solution to a long-term problem)!!! We Will Either Find a Way or Create One - HANNIBAL
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Forex & fuel pass-throughs are primarily from KenGen & IPPs. KPLC looks the bad guy. All PPAs are available for review at KPLC offices through 21 Dec 2010. The forex base is at 68/- [whereas it is 80/- now] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Engen knows the value of KK [Engen & KK were going to jointly acquire a Zimbabwe business] http://www.businessdaily...22/-/cmaqo5/-/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 9/26/2006 Posts: 451 Location: CENTRAL PROVINCE
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stocksmaster wrote:@ The Deal: The Oil marketers will examine the price regulations and do one of two things: 1. Accept them if they have enough loop holes to ensure they are impotent. Kenya as a liberalised economy cannot be seen to be having a 'price control' and hence the more friendlier term 'pricing formula'.The oil marketers seem to have been consulted on this one as they have largely remained quiet. They may have been able to milk some favourable concessions from the GoK in exchange for the 'Pricing formular'. http://www.businessdaily...0/-/muj1e9/-/index.html
2. Go to court and ensure the guidelines are shelved if they do not favour business. Am sure the well paid lawyers of this oil marketers are up to the task. The pricing formula is a populist move by the Ministry of Energy which is partly responsible for the high fuel prices. Happy hunting. Seems option 1 was the applicable one. The oil marketers were to have a reduction in petrol prices in exchange for a similar increase in diesel and kerosine. With Petrol accounting for only 15% of their products, the reduction would more than be compensated by the rise in Diesel (40%) and Kerosine (8%). http://www.businessdaily.../-/y37ftnz/-/index.html
At the end, the net impact to the oil marketers may actually be a rise in fuel prices/margins for oil marketers!.......Thats why option 2 above was not necessary. Happy hunting.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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@stocksmaster - I need to see the source docs about the %s... Somehow 15% of fuel sales being petrol vs 40% for diesel seems erroneous [I understand that the lorries & generators run on diesel & I might have a 'city' perspective] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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VituVingiSana wrote:@stocksmaster - I need to see the source docs about the %s... Somehow 15% of fuel sales being petrol vs 40% for diesel seems erroneous
[I understand that the lorries & generators run on diesel & I might have a 'city' perspective] I agree 15% for petrol seems to be on the lower side.But the marketers little resistance to the prices as fixed by MoE may be saying much.On KK,they have the wider distribution across the country compared to even Total who have a third of market share.The higher prices up country may do them some good.
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Rank: Member Joined: 9/26/2006 Posts: 451 Location: CENTRAL PROVINCE
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@ CNN & VituVingiSana: I got the figures from the Business Daily, and on further research I think they are accurate. Open the link below and go to Page 10. http://www.esmap.org/esm..._doc_with_new_cover.pdf
The diagram shows Petroleum product consumption for 2007 for 12 countries. In Kenya, Gasoline is about 15%, Kerosine about half of that (8-9%), Aviation fuel about 20%, Diesel about 35%, Fuel oil about 18%. The rest of the report also makes for interesting reading. Happy hunting.
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Rank: Member Joined: 8/4/2008 Posts: 205 Location: Nairobi
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Statement from Kenol Kobil: 20 Dec 2010
Indian Ocean Declared a War Zone
The entire Indian Ocean has been declared a war zone effective December 16, 2010 by the Joint War Committee (JWC)!
JWC cites the ever increasing piracy activities across the Indian Ocean, beyond the coast of Somalia and the Gulf of Eden, which the influential body had earlier declared a war zone in their latest advisory.
Following the declaration, ship owners have raised freight premiums by more than 100%. Freight premiums now stand at an average of 30 USD per tonne of cargo up from the previous average of 15 USD per tonne. Marine insurance premiums have also gone up.
This declaration means that the cost of shipping all goods including petroleum products across the Indian Ocean will increase further as ship owners incur additional costs related to the significant voyage deviation off the East African coastline as well as hiring of private armed protection.
Further, ship owners who have in the past been reluctant to send their vessels on assignments across the piracy prone Indian Ocean waters are expressing even more reluctance now.
In this regard, we would like to sensitize consumers of the impending rise in the prices of key commodities in Kenya and the region.
Charles Njogu
Public Relations Manager"When the pupil is ready to learn, a teacher will appear." -- Zen proverb
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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KK has thrown down the gauntlet... I think KK might stay out of bidding for importation of Crude/Fuel for Dec 2010, Jan 2011... then MoE will see dust... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/9/2006 Posts: 79
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@VVS I think moe is being populist, businesses have to pass such costs to consumers coz that's the way business works. Or else the govt should cover such costs if they want to control costs. The Kenya govt has no idea or moral authority to dictate what businesses do. They've never been successful running anything. For heavens sake, they can bankrupt monopolies.
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Rank: Member Joined: 8/4/2008 Posts: 205 Location: Nairobi
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VituVingiSana wrote:KK has thrown down the gauntlet... I think KK might stay out of bidding for importation of Crude/Fuel for Dec 2010, Jan 2011... then MoE will see dust... You may have a point VVS; I feel the oil companies are just getting ready to show the MOE dust come the New Year; with our attention turned to politics and the pre-pre-election campaigns things will be happening behind the scenes in the oil industry... "When the pupil is ready to learn, a teacher will appear." -- Zen proverb
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Let's see if NOCK can deliver in Jan with the new, higher insurance & shipping rates! I think KK, Shell & Total will just let NOCK bid & ask for allocations from the imported cargoes! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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VituVingiSana wrote:Let's see if NOCK can deliver in Jan with the new, higher insurance & shipping rates! I think KK, Shell & Total will just let NOCK bid & ask for allocations from the imported cargoes! KK had in November won the tender for January delivery.How they go about it in view of the latest developments i wait to see.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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cnn wrote:VituVingiSana wrote:Let's see if NOCK can deliver in Jan with the new, higher insurance & shipping rates! I think KK, Shell & Total will just let NOCK bid & ask for allocations from the imported cargoes! KK had in November won the tender for January delivery.How they go about it in view of the latest developments i wait to see. That might be the reason for the Press Release... KK might submit the 'bill' to ERC for a re-setting of the Pump Price. I need to check how many crude shipments they 'won' coz Kenya normally has two monthly shipments of 80,000 MT crude + fuel (refined) imports to cover the shortfall... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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@vvs,it was for two lots of crude,160 000 MT in total for Kenya and the region.With higher insurance and freight rates ,rising crude prices the only way the pump prices will remain below 100 going forward is by a review of the taxes.Will they?
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Rank: Member Joined: 8/4/2008 Posts: 205 Location: Nairobi
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cnn wrote:@vvs,it was for two lots of crude,160 000 MT in total for Kenya and the region.With higher insurance and freight rates ,rising crude prices the only way the pump prices will remain below 100 going forward is by a review of the taxes.Will they? One word - Never! "When the pupil is ready to learn, a teacher will appear." -- Zen proverb
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Rank: Member Joined: 6/29/2006 Posts: 184
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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guru267 wrote:I placed an order for additional KK at 10.8... I really hope I got in at that price because this order will double myi holdings in KK  hope you didn't get in. So what do you think the future holds for KK?
BBI will solve it :)
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