KPC remits Sh7b in dividend to Treasury as profit rises to Sh10b

From left: Energy CS Opiyo Wandayi (second right), Kenya Pipeline Company MD Joe Sang (left), KPC Chairperson Faith Boinett and PS Mohamed Liban during a tour of KPC storage facilities in Nairobi, on August 21, 2024. [File, Standard]

The Kenya Pipeline Company (KPC) has reported Sh10 billion profit before tax for the 2023/2024 financial year, a 32 per cent increase from Sh7.6 billion achieved in the previous fiscal year.

The State-run pipeline and oil storage firm also reported a 15 per cent increase in revenue from Sh30.9 billion in the last financial year to Sh35.4 billion in the year to June 2024, driven by higher sales volumes and favourable forex rates.