Nock unveils plan to influence prices

In the last two years crude has risen to an all time of $145 per barrel which led to local pump prices rising to Sh108.

The rapid rise in crude prices was attributed to insatiable demand from China to fuel its rapidly growing economy.

However, prices have stabilised with current Brent crude costing $77 per barrel.

Local pump prices are hovering between Sh81 to Sh87 per litre for petrol and Sh64 to Sh68 per litre for diesel.

NOCK has revamped its operation through acquisition of a number of outlets from existing players leading to an increase in its retail outlet subsequently its bottom line.

Recently, NOCK through a government backed initiative managed to acquire retail outlets from Shell when it was merging its business activities with BP.

Similarly, it got additional outlet owned by Chevron which was bought by Total as it was exiting the local market.

Its presence has further been enhanced when it acquired Somken Petrol Station which exited the market. Somken had its operation concentrated in Western Kenya.

The expansion drive has seen NOCK increase its output to 210 million cubic metres valued at Sh14.1 billion.