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KENOL/KOBIL
Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Rank: New-farer Joined: 7/20/2010 Posts: 17 Location: kenya
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porojo ....is someone to cause panic on the counter???
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Suspension presumably by KPRL. But that is irrelevant if the contract was cancelled. You cant cancel a contract then suspend services. Somebody is going into panic mode and has stopped thinking objectivly. Meanwhile, like @youcant has said, the KK M&A machine soldiers on.
What do COMESA rules say about importing white products from member countries? Could KK import refined products from oil producing member countries (Angola, Mozambique, Sudan, Uganda) and bypass KPRL? I'm not sure if Angola and Mozambique are COMESA, I think only SADCC.
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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@GG - Only Kenya requires crude to be processed in Kenya to support a government 'owned' (well, 50%) entity. Tanzania used to have a refinery. Now 'dead'. So all these countries import White Oils which are cheaper if imported from Middle East or India. South Africa is already stretched due to the local & regional demand. 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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MOE directed ERC to cancel KKs import licence,until the latter resolves its issues with KPRL.A case of MOE abusing its position to support an inefficient entity where GOK has a holding?.What will they do when UG starts processing and exporting its own oil?.And if importing white oil is cheaper why not go 100% to that route and save the country billions of dollars? .@Kausha,bring down another side of the wall.
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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The stock is reacting in the wrong way down to 9.90 today...anybody still interested???
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Rank: Member Joined: 1/15/2010 Posts: 625
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Kenol Kobil shareholders have been taken on an agonizing up and down. Some are starting to panic and sell out. I'm hoping they announce an interim dividend to mollify shareholders. But once this KPRL trouble is behind us, we will sail the winds to higher dividends.
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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@the deal,if i had the cash i would be very interested at the 9.70 levels.All the negative news and it has lost less than 10% in the last two weeks.Remember cables with their profit warning?.I believe there will be a way out of this.Can we first see the half year trading results on thursday.That said my entry average is 7.30,short term volatility does not bother me.
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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cnn wrote:MOE directed ERC to cancel KKs import licence,until the latter resolves its issues with KPRL.A case of MOE abusing its position to support an inefficient entity where GOK has a holding?.What will they do when UG starts processing and exporting its own oil?.And if importing white oil is cheaper why not go 100% to that route and save the country billions of dollars? .@Kausha,bring down another side of the wall. Not good news at all. If KK Cant process and cant import, what will they sell? From Daily Nation today, seems all the other oil marketers are supporting the position that KK Should pay the new rates and are urging that they be denied ullage at KPC.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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It is just a matter of common sense which people (especially those who have KK shares) do not want to see or hear. Due to increased costs the price for processing crude by KPRL was adjusted upwards in 1999 and 2006. Then, KPRL was owned by GOK and KK competitors (Shell,BP & Chevron) ALL the other marketers saw the logic and having been paying the increased costs save for KK. Does KK charge less on their pumps? So you wonder why... The bullying mentality, period. But it is always good to look back to history to understand complex situations. One of the major shareholders even today was very powerful during KANU era and his word was final but he needs to tell this CEO things have changed and the days of KANU being baba & mama are long gone. Who has been earning a fixed salary from 1999-2006-to date? This Segman cannot force his crude ways of doing business down the throat of KPRL. KPRL is a private company owned 50/50 by Essar and GOK and has to make profit just as KK wants to make profits. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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@BGL cheers to you....Segman choose to fight and he lost...LOL...
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Rank: Member Joined: 4/14/2010 Posts: 806 Location: Nairobi
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Looking at bigger picture a win for KK will set a precedent that will close down both KPRL and KPC and with that will vanish any remedial form of fuel supply stability.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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@BGL, I quite agree with your points, but the fact that all other marketers are paying the new fee doesn't make it right/legal.
I think Segman has made his point, and what he needs to do is pay to the court the amounts demanded (for custody) in order to get the licenses back, then continue on the crusade with the arbitrator.
Inefficient or not, one cant argue that 1999 prices are still reasonable, under my rules of logic.
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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..it was interesting that as press reported on this..they also pointed out that Total now controls a larger market share than KK.. for the benefit of probably discomforted KK share holders considering offloading!  Ignorance is bliss.. watch as allegience shifts! ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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@BGL i hope the kk CEO can read your post... Mark 12:29
Deuteronomy 4:16
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Rank: Member Joined: 1/31/2007 Posts: 304
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This is clearly a fight KK cant win.....I wonder why the management chooses to cause such anguish on its shareholders....
Fights with the govt (KPRL-govt owned) are never won easily....The mgmt should focus on less fractious ways to boost the shareholders bottom line..
This is clearly a fight to no where...
My 2cents
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Rank: Member Joined: 1/31/2007 Posts: 304
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In the meantime the share will get a beating.....
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Rank: Veteran Joined: 6/17/2009 Posts: 1,622
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And that will be a buying opportunity,whichever way i dont think the management will just sit back and allow the business to continue being affected by this mess.But this KPRL better upgrade or its days are numbered,UG refers.
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Rank: New-farer Joined: 6/17/2010 Posts: 71 Location: Kenya
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We need the fluctuations to make money in the market. let the share take a beeating, present a buying opportunity and then go up some..... as the fundamentals remain. Just a thought  Did Segman anticipate this to "leak" the anticipated good 1H results that we recently saw. I think the leak is what is propping the share otherwise the buying opportunity would already be with us. When we wake up in the morning, we have two simple choices. Go back to sleep and dream, or wake up and chase those dreams. The choice is yours! .
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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