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Thursday, June 5, 2008
The government of Kenya is in talks with Chevron regarding the possibility of picking up its fuel marketing business in Kenya. The US major operates its retail business in the East African country under the Caltex name. According to an article published in Kenya’s Business Daily the government is offering Sh3 billion for the fuel marketing business.
The article related that the Kenyan and Ugandan operations of Caltex were for sale as a joint unit, unfortunately this puts the government at a disadvantage against international and national oil companies that are said to be looking to increase their business in the region. Kenya is asking Chevron to unbundle the two to give it a better chance of picking up the Kenyan unit.
Energy Permanent Secretary Patrick Nyoike told Business Daily “We have asked them to unbundle the two operations to enable us bid for the Kenyan operation in which we are interested.”
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