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Vivo Energy upgrades oil storage capacity

BUSINESS
By Patrick Beja | October 30th 2015

A leading oil marketing firm has opened storage tanks with a capacity of 14 million tanks in an effort to reduce ship waiting time at the port of Mombasa due to limited storage space.

Vivo Energy officials said oil storage capacity expansion would save the country costly demurrage charges imposed by shipping lines for keeping vessels waiting owing to limited storage capacity.

Vivo Energy Group CEO Christian Chammas and Vivo Energy Kenya managing director Polycap Igathe opened the two fuel tanks with a capacity of five million litres and nine million litres respectively at the firm’s Shimanzi depot.

The two tanks raise Vivo Energy’s total storage capacity in Mombasa a month from about 10 million litres to 20 million litres.

“Additional storage will enable Vivo Energy to support its rapidly growing retail business, which has witnessed a 31 per cent growth over the last two years. It also increases flexibility to support inland markets like Uganda,” he said.

According to Mr Igathe, the number of Vivo Energy petrol stations in the country has increased from 110 to 160 and will increase to 200 by the end of next year.

 

 

 

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