Inside Sh5b NOC-Rubis deal to revamp cash-strapped oil marketer

Rubis petrol station along Koinange Street, Nairobi. [Boniface Okendo, Standard]

National Oil Corporation (NOC) could soon turn out as one of the biggest profitmaking State corporations after an injection of Sh5 billion by Rubis Kenya as a non-equity strategic partner.

In the revitalisation plan that got Cabinet approval in August last year giving the State-run oil marketer a go-ahead to shop for a strategic investor, NOC will be seeking to take control of a third of the 5.13 metric tonnes of Kenya's total fuel consumption, according to official data.