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The oil trader Libya Oil Kenya Limited (LOKL), which trades under the trade name OiLibya, has been renamed Ola Energy.
The oil distributor said its new brand would be applied to all its outlets in 17 African countries.
Ola Energy Kenya Managing Director Duncan Murashiki said the brand change was part of the company's development strategy, which will see the opening of new service stations across the country. The new name is an abbreviated form of Oil Libya Africa. "By the end of 2019, we plan to have more than 100 stations in Kenya, with more resources dedicated to our lubricants market as well as liquefied petroleum gas," Murashiki said. .
Ola Energy started its distribution and marketing activities in Kenya in December 2006 after signing an agreement with ExxonMobil Corporation.
The company has not yet announced the amount it would spend for the brand's 1,100 stations spread across 17 African countries, but regional council chairman, Elmarimi Kashim, said he would phase out the OiLibya label during the transition that is expected to be completed by mid-2020. .
"We will always see a small symbol of OiLibya in our stations, because it is a brand we have built and we do not want anyone to imagine that we are a new company without experience in this market," Kashim said. .
The company, which also operates three cooking gas bottling plants in Kenya, blends its lubricants locally – a market it believes will be vital to reorienting its business in the downstream oil sector.
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