Meet Owners of Be Energy Oil Company, Their Shares

 

Oil marketing in Kenya has its roots in the colonial era of the 1900s when Royal Dutch Shell established the inaugural depot at Shimanzi in Mombasa county. Raila Odinga Jr is a director at Be Energy Ltd. TABLE OF CONTENTS Who founded Be Energy? How Be Energy expanded Who are Be Energy's shareholders? Other oil companies and their owners + View more Since then, the sector has experienced remarkable growth, boasting a landscape with over 70 registered oil marketing companies managing upwards of 1,800 service stations. Be Energy is one of the largest oil marketing companies in Kenya. According to the Petroleum Institute of East Africa, it controls a market share of 3.52%, making it the largest oil company in the country.  Who founded Be Energy? Daily Nation reported that the company was founded by Sheikh Abdul Kader Al Bakri as Bakri International International Energy in 1973. Be Energy is the local arm of the multi-national oil marketing company. In the early 1990s, Bakri embarked on an aggressive expansion strategy that led to the firm expanding its presence into Kenya on February 24, 2004. It was initially registered as Bakri Energy before being rebranded to Be Energy. How Be Energy expanded As per its website, the company was an expansion of the affiliates within the Be Energy Group, driven by a singular vision of “being the leader in oil and gas supply for the region”. At the time, there were only a few prominent brand companies, and competition was primarily dictated by supply and demand dynamics. However, as time passed, heightened competition and stringent price and capacity regulations ensured that only the most efficient and adaptable companies, including Be, survived and grew. It is the distributor of Q8 lubricants from the Kuwait Petroleum Corporation, and its clients include Kenya Airways (KQ), Martin Air, African Express, Air France and KLM, Egypt Air, Saudi Airlines and CargoLux. The company exports jet fuel, kerosene, diesel, petrol and oil lubricants to countries within the Eastern African region, including South Sudan, Rwanda, Burundi, Uganda and the Democratic Republic of Congo (DRC). Be Energy has storage facilities in Mombasa, Nairobi, Kisumu, Eldoret and Nakuru. The company also boasts a fuelling facility at the Jomo Kenyatta International Airport (JKIA), allowing it to serve KQ and other airlines. Who are Be Energy's shareholders? The Business Registration Service records revealed that the Bakri family is the majority shareholder with 5,201 shares (65%). The Saudi Arabian family controls the firm through International Energy World S.A. Azimio la Umoja One Kenya Coalition Party leader Raila Odinga and his family own 2,801 shares, equivalent to 35%. Odinga's family owns Be Energy through Pan African Petroleum Company, where Raila Junior and Oburu Odinga are the directors. Pan African Petroleum Company shareholders include Rosemary Odinga (50,000 shares), Winnie Odinga (25,000 shares), Elija Oburu (125,000 shares), Raila Junior (25,000 shares), Wenwa Akinyi Oranga (25,000 shares) and Kango Enterprises (250,000 shares). Kango Enterprises is owned by Raila and his wife Ida who have 100 shares each. Be Energy was one of the companies that participated in the open tender system before President William Ruto's government inked a government-to-government deal with oil companies in the Middle East. Other oil companies and their owners Total Energies is part of the global Total Group, the fourth-largest publicly-traded integrated international oil and gas company globally, with a presence in over 100 countries. Vivo Energy is owned by Vitol Group (36.1%), Helios Investment Partners associated companies (27.23%), Petronas Marketing International SDN BHD (3.93%), and Others via the LSE and JSE (32.74%). Rubis Energies is an independent French operator that was founded in 1990. 

by  Japhet Ruto