Rubis Energy’s ownership was brought into question following the acute fuel shortage experienced in the country. This was after President-elect William Ruto claimed that a number of powerful individuals in the country have interests in the petroleum sector thus creating an artificial shortage.
Following Ruto’s sentiments, reports emerged linking Rubis to the family of outgoing President Uhuru Kenyatta, claims that have never been substantiated.
Rubis is the leading petroleum companies in Kenya following its acquisition of Kenol Kobil in 2019 in a Ksh36 billion takeover.
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For the avoidance of doubt, WoK profiles the list of shareholders at the company which has since expanded into the Eastern, Central, and Southern Africa markets.
A spot-check on the company’s website indicates that the company is owned by a number of shareholders both international and local.
According to the company website, as of 2020, 85.74 per cent of Rubis was owned by investors in a free float, Supervisory board (0.13 %) General Partner managers (2.21%), Marcel Dessault (5.45%), Wellington Management Group LLP (5.08%), Rubis Avenir mutual fund (1.32%), and Treasury shares (0.06%).
However, the shareholding structure has since changed following the company’s entry into Africa. According to Market Screener, Marcel Dessault has since increase its ownership in the company, reducing the free float ownership.
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The company is now owned as illustrated below.
The company’s management is as follows:
|Bruno Krief||Chief Financial Officer||–||–|
|Anna Patrice||Head-Investor Relations||–||–|
|Gilles Gobin, Dr.||Statutory Manager & General Partner||71||1990|
|Jacques Riou||Managing Partner||–||1992|
|Anne Zentar||Director-Corporate Consolidation & Accounting|
Rubis was founded in 1990, and specialises in the distribution of petroleum products (service station networks, commercial fuel oil, aviation fuel, LPG, bitumens, etc.), with operations in Europe, the Caribbean and Africa through its subsidiary Rubis Energy.
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Since 2000, the company has expanded its presence across three regions, (Africa, Europe and the Caribbean) through direct investments and acquisitions. The Group has enjoyed strong, regular progress driven by organic growth, new sites and acquisitions, while also constantly improving its productivity.
Rubis is now a major player in the fuels distribution business in Kenya. In March 2019, the company acquired the assets owned and operated by KenolKobil PLC, and later Gulf Energy Holdings in November 2019. The acquisitions meant that Rubis becomes a formidable competitor in the regional downstream business.
Rubis Energy Kenya is 100% owned by Rubis Energie following the full acquisition of both KenolKobil and Gulf Energy Holdings in 2019. Rubis Energie is a subsidiary of the Rubis Group which is listed at the Paris Stock Exchange.
Rubis Energy Kenya runs a strong network of over 230 strategically and conveniently located service stations countrywide under the Gulf Energy, Kenol, Kobil and Rubis brands.
The company’s K-gas brand is the most preferred cooking gas in Kenya for domestic and commercial use thanks to reliable supply and accurate quantity distribution, provided with high standards in terms of quality and safety.
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The company refuels at the international airports in Nairobi and Mombasa most major passenger and cargo airlines. Its services meet the International Air Transport Association (IATA) standards of into-plane refuelling procedures and guidelines.
Storage and Assets
Rubis Energy Kenya operates fuel depots in Kenya (Mombasa and Nairobi), Zambia, Burundi, Rwanda, and Uganda.
The company operates three aircraft refueling facilities: at Jomo Kenyatta International Airport and Wilson Airport in Nairobi, and Moi International Airport in Mombasa.
Rubis also operates state-of-the-art LPG filling plants in Kenya, Zambia, Uganda and Rwanda.
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Wellington is owned by the Kenyattas.Period.
Tell us why there is fuel shortage,all we know is the GOK has the answer.