Galana Energies Ltd: Meet Owners of Petroleum Company Importing Fuel

 

In March, Kenya inked deals with state-owned petroleum companies in Saudi Arabia and the United Arab Emirates (UAE) to export fuel on credit. Galana Energies Ltd CEO Anthony Munyasya. Photo: Galana Energies Ltd. Source: UGC Why Kenya inked deal to import fuel on credit The government-to-government deal was announced by EUnder the agreement, Aramco was contracted to supply diesel cargo consignments while the Abu Dhabi National Oil Company was tasked with supplying petrol. Chirchir announced that the deal paved the way for Kenya to pay for fuel in shillings, easing the pressure on the local currency, which was on a free fall against the United States (US) dollar. "The product will now be paid for in Kenyan shillings, and this will ensure the dollar is available for other sectors of the economy," Chirchir assured. Which companies were picked to import fuel? Three oil companies were picked to import fuel into the country on behalf of other marketers, which accused the government of excluding them from bidding under the open tender system. Gulf Energy secured a deal to import 170,000 to 200,000 metric tonnes of diesel from ADNOC. It also bagged a contract to import 80,000 metric tonnes of jet fuel monthly for a period of nine months. On the other hand, Galana and Oryx Energy were tasked with importing 160,000 to 180,000 metric tonnes of diesel monthly from Saudi Aramco. Why govt-to-govt deal was extended In September, the government extended the government-to-government oil import deal with Gulf firms as fuel prices rose to unprecedented levels. Bloomberg reported that Energy and Petroleum Regulatory Authority (EPRA) director-general Daniel Kiptoo said the three firms will supply Kenya with petrol, diesel, kerosene and jet fuel until December 2024. The government explained that the extension was meant to ease the dollar demand as the greenback was scarce in the market. Who owns Galana Energies Ltd? Galana Energies Ltd owns a chain of petrol stations under the Delta Galana Energies Ltd was registered on June 7, 2000, and is owned by three firms. These are Sai Ram Investment Company (1,576 shares), Romichi Company (1,576 shares) and Tapiola Limited (1,598 shares). Who imported fuel worth KSh 17b? Elsewhere, the contentious diesel imported from Turkey to Kenya continues to develop new twists by the day. At the centre of the saga has been purported businesswoman Ann Njeri, who, from the onset, claimed ownership of the 100,000 metric tonnes shipment valued at KSh 17 billion. Njeri and two oil marketing companies claimed ownership of the oil, which was offloaded at the Port of Mombasa a few days back. However, in a presser, Energy CS Davis Chirchir and his Transport counterpart Kipchumba Murkomen disowned Njeri, saying the oil shipment belonged to Galana Energies, which Busia senator Okiya Omtatah claimed was being used to launder the heist.  Njeri had been facing off with Galana Energies Limited and Ramco in claiming ownership of the shipment. At the same time, UDA Secretary General Cleophas Malala claimed the KSh 17 billion diesel shipment belongs to Raila Odinga and Uhuru Kenyatta. Malala claimed Uhuru masterminded a grand theft in the sunset days of his regime and used the proceeds to order the oil. 

BY Japhet Ruto