KenolKobil deal lifts French firm’s profit

Rubis, which is looking to increase its foothold in East Africa said it has signed an agreement with Gulf Energy. [David Njaaga, Standard]

Kenolkobil has helped its new owners more than double revenues and the amount of petroleum products sold in Africa.

This comes a few months after the completion of the acquisition. The French oil major Rubis Energy attributed the rise to bringing the Kenyan firm into its fold.