OLA Energy Kenya: Who Owns Petroleum Company with 4th Largest Market Share?
- The Energy and Petroleum Regulatory Authority (EPRA) revealed there were 144 petroleum companies in Kenya as of December 2024
- Ola Energy is the fourth-largest oil marketing company in Kenya, behind Vivo Energy, Rubis Energy and TotalEnergies
- The oil marketing company is owned by the Libyan government through the Libya Africa Investment Portfolio (LAIP)
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Japhet Ruto, a journalist at TUKO.co.ke, has over eight years of expertise in finance, business, and technology journalism in Kenya and globally.
OLA Energy is the fourth-largest oil marketing company in Kenya.
Source: Facebook
What was the volume of petroleum products sold by Ola?
The Energy and Petroleum Statistics Report for the 2024/2025 financial year, published by the Energy and Petroleum Regulatory Authority (EPRA), ranked OLA behind Vivo Energy, Rubis Energy and TotalEnergies.
During the period under review, the petroleum firm sold 128,721 m³ of petroleum products, such as petrol, diesel, kerosene, automotive gas oil, and jet fuel.
"There were 144 registered Oil-Marketing Companies (OMCs) as of December 2024. These companies market AGO, IK, PMS, JET A1, lubricants, and LPG," EPRA stated.
Who owns Ola Energy?
OLA Energy Kenya, formerly known as Oil Libya, is owned by the Libyan government through the Libya Africa Investment Portfolio (LAIP), a sovereign wealth fund.
The company has its headquarters in Dubai, United Arab Emirates (UAE), due to the city's strategic location for businesses worldwide and access to the international market.
Besides Kenya, the oil marketing company has a market presence in 16 other African countries, employing over 1,500 employees.
According to its website, it provides indirect employment to 20,000 people and serves over 250,000 customers daily.
Following the signing of a contract with ExxonMobil Corporation, OLA Energy began its distribution and marketing operations in Kenya in December 2006.
In Africa, it operates more than 1,200 service stations, eight blending plants, over 60 fuel terminals, and has a presence in 50 airports.
Why Ola Energy rebranded from Oil Libya
In 2018, Oil Libya Kenya Limited introduced the new visual identity for its vast network of retail locations and petroleum products under the new name OLA Energy.
Source: Getty Images
This came after the Oil Libya Group was rebranded as OLA Energy Group.
"This new brand expresses the drive and ambition felt throughout our group in this phase of its evolution, and it captures the essence of our company as a modern energy player across our footprint in Kenya and Africa," it stated.
Below is a list of OLA Energy's executive team
- Abozid Swalem - executive chairman.
- Fawzi Elmghtouf - overall chief executive officer (CEO)
- Cyrine Draif - OLA Energy Kenya CEO.
- Issa Atlouba - corporate affairs officer.
- Avinash Hurpaul - chief financial officer.
- Maurizio Libutti - chief operations officer.
- Zeina Kalaani - corporate legal head.
- Riadh Binous - corporate human resources head.
- Jamil Bouchaibi - corporate technology head.
- Ashraf Elkhoja - general manager, energy supply.
Other top oil-marketing companies in Kenya
With a 21.34% market share, Vivo Energy Kenya remained the top oil marketing firm in Kenya.
Rubis Energy Kenya emerged second with a market share of 15.96%, followed by TotalEnergies Marketing Kenya PLC with a market share of 14.53%.
Other top petroleum companies in Kenya are Oryx Energies Kenya (1.55%), Tosha Petroleum Kenya Ltd (1.9%), Dalbit Petroleum Limited (1.81%), Galana Energies (3.12%), Stabex International (2.29%), Lake Oil Limited (1.95%), Petrol Oil Kenya Limited (1.90%), and Be Energy Limited (3.72%).
Who founded Astrol Oil?
In other news, Thayu Kabugi Kamau was the founder of Astrol Petroleum Company, as earlier reported by TUKO.co.ke.
Kabugi died in 2019 and left behind a substantial fortune.
Before his death at Nairobi Hospital on February 20, 2019, at the age of 94, the business tycoon served as the chairman of the petroleum company.
Proofreading by Asher Omondi, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
