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Looming Petrol Shortage
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Ericsson
#1 Posted : Monday, May 06, 2013 11:49:25 AM
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Joined: 12/4/2009
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Location: NAIROBI
http://www.theeastafrica...20/-/clx5ni/-/index.html
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hisah
#2 Posted : Monday, May 06, 2013 12:15:31 PM
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Joined: 8/4/2010
Posts: 8,977
Right on time just before the new prices come to effect. This is why I said I'll be waiting to see how the oil firms will deal with this discount forced on them by a strong KES and the global oil price plunge. I'm also scoping india and I expect them to play games with fuel prices. Essar is in KE and India too...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Ericsson
#3 Posted : Monday, May 06, 2013 1:05:14 PM
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Essar has no interest upgrading KPRL.They'd rather refine the crude oil in India and import the finished product to Kenya.
Six years after buying the 50% stake yet nothing to show off.
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maka
#4 Posted : Monday, May 06, 2013 1:13:21 PM
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Joined: 4/22/2010
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Location: Nairobi
so with will this be the norm year in year out?
possunt quia posse videntur
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Ericsson
#5 Posted : Monday, May 06, 2013 1:25:46 PM
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It could have been much better and efficient if gava bought out the stake held by shell/BP,kenol Kobil and Caltex when they were bolting out;then give the Chinese the contract to modernise the refinery.
We could now be close to having a very modern and efficient refinery
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VituVingiSana
#6 Posted : Monday, May 06, 2013 9:57:50 PM
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Joined: 1/3/2007
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Location: Nairobi
Ericsson wrote:
It could have been much better and efficient if gava bought out the stake held by shell/BP,kenol Kobil and Caltex when they were bolting out;then give the Chinese the contract to modernise the refinery.
We could now be close to having a very modern and efficient refinery
Well, GoK did exercise its Right of First Refusal & was paid $20,000,000 [or so I think] by Essar for the right to buy the other 50%. The Chinese did bid too but the highest bidder wins. Or something like that. Did Kobil have a stake in the refinery?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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