Wazua
»
Investor
»
Stocks
»
kenolkobil returns to profit in Q1 2013
Rank: Elder Joined: 7/11/2010 Posts: 5,040
|
oil business is a dirty business. court cases and rows left right centre. and profit booms and losses. i like it. The investor's chief problem - and even his worst enemy - is likely to be himself
|
|
|
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
|
You can take Government nowhere. That you can take even to Inoorero Farmers Sacco, Mandera Branch. Quote:Troubled oil marketer KenolKobil has turned to the Energy Regulatory Commission to resolve a dispute in which the company has been denied fuel allocation from the Mombasa refinery. And i had thought they were running to the Mutunga's courts! NKT. Now Sengeman has learnt he cannot hold KPRL at ransom? Receive with simplicity everything that happens to you.” ― Rashi
|
|
|
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
|
Aguytrying wrote:oil business is a dirty business. court cases and rows left right centre. and profit booms and losses. i like it. Buying and selling of fuel cannot be dirty. Its the greed of wanting super profits that is e.g. Pata Potea Hedging Casino games. Receive with simplicity everything that happens to you.” ― Rashi
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
Aguytrying wrote:oil business is a dirty business. court cases and rows left right centre. and profit booms and losses. i like it. interesting, from a traders perspective
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
|
mwekez@ji wrote:Quote:Kenya may face a “spike” in gasoline costs and a shortage next month because of a dispute between fuel retailers and the country’s only refinery, said Vivo Energy Kenya Ltd. Managing Director Polycarp Igathe. Ten fuel-marketing companies have refused to adhere to a rule that they purchase 40 percent of their fuel needs from the refinery, the Oil Industry Supply Coordination Committee said in a letter sent to Kenya Petroleum Refineries Ltd., or KPRL. The April 19 letter from the committee, which represents companies including KenolKobil Ltd., Total Kenya Ltd. and Nairobi-based Vivo Energy, the three biggest fuel suppliers by market share, was forwarded to Bloomberg by two of its members. From July 1, “fuel supply into Kenya is at risk and perhaps supply costs will spike due to an increase in demurrage costs as all players import their product needs,” Igathe said in an interview on June 14 in Nairobi, the capital. Offloading at the port in Mombasa may be delayed as multiple companies import instead of only KPRL, he said. http://www.businessweek.com/new...rise-from-july-vivo-says Bloody thieves these OMCs. They said its more expensive to get fuel via KPRL and now when their wish of bypassing KPRL is about to be granted they start saying that its going to cost us more if they dont import via KPRL Nonsense. What OMCs are saying is that the dispute is holding them hostage. KPRL is holding THEIR stocks & charging 10/- more per liter as processing costs. OMCs want KPRL to release their stocks. There are 2 issues here & the paper has not presented them well. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
|
dunkang wrote:You can take Government nowhere. That you can take even to Inoorero Farmers Sacco, Mandera Branch. Quote:Troubled oil marketer KenolKobil has turned to the Energy Regulatory Commission to resolve a dispute in which the company has been denied fuel allocation from the Mombasa refinery. And i had thought they were running to the Mutunga's courts! NKT. Now Sengeman has learnt he cannot hold KPRL at ransom? It's KPRL that is holding OMCs including KPRL at ransom. They have Shs 1.9bn in KK's stocks. In addition, the costs KK incurred in these 'dead stock' amounts to Shs 1.2bn. If KPRL were to release the 'hijacked' stocks & cover KK's finance costs then the dispute will be resolved. http://www.nation.co.ke/...0/-/t6nbeg/-/index.html
a forensic audit carried out by Deloitte Consulting Ltd, commissioned by the oil industry and sanctioned by the Ministry of Energy. The audit revealed that oil marketers suffered a collective Sh7 billion in product losses due to inefficiencies at the refinery.
“The dispute with KPRL is essentially commercial in nature as KPRL has illegally withheld KenolKobil’s crude and products valued at over Sh2.2 billion,” reads part of a letter sent by KenolKobil to ERC.
On Wednesday, KenolKobil, through its lawyers, filed an amended suit against KPRL at the High Court demanding settlement of all amounts owed by the refinery.Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Member Joined: 2/8/2007 Posts: 808
|
MoE should provide leadership not misuse regulatory authority to bully businesses. Look whether we hide or not KRPL is dead as a refinery. Neither MoE nor Essar want to put in money, so they keep badgering wananchi with totally unnecessary inefficiency costs. How long can MoE do this. And who said we must have a refinery??
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
|
Kausha wrote:MoE should provide leadership not misuse regulatory authority to bully businesses. Look whether we hide or not KRPL is dead as a refinery. Neither MoE nor Essar want to put in money, so they keep badgering wananchi with totally unnecessary inefficiency costs. How long can MoE do this. And who said we must have a refinery?? Vested interests in GoK/MoE, etc want the refinery to skim what they can off the top! If the tanks at KPRL are given/rented to OMCs, the crude loading berths used to import fuel, etc AND increase competition to lower prices for all Kenyans. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
9 is being tested again
BIDS 266,300
Quantity Price Splits Time
31,300 9.00 5 10:07:53
185,000 8.60 7 10:07:53
50,000 8.50 1 10:07:53
- - - -
- - - -
ASKS 50,300
Quantity Price Splits Time
8,100 9.35 1 10:07:53
14,300 9.50 2 10:07:53
8,000 9.65 1 10:07:53
15,400 10.00 4 10:07:53
3,500 10.10 1 10:07:53
TRADES
Quantity Price Time
10,800 9.00 09:42:55
500 9.00 09:42:55
100,000 9.00 09:42:55
1,300 9.00 09:42:55
11,000 9.00 09:42
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
|
Fist Pump. In for a penny. In for a pound. Buying more at 9 as I wait for dividends to trickle in so I can pick up even more. I am tempted to sell other stuff I have too! Caveat: Not rose colored glasses I hope!  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Wazua
»
Investor
»
Stocks
»
kenolkobil returns to profit in Q1 2013
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|