Oil marketer Libya Oil Kenya Limited (LOKL), which operates under the trade name OiLibya has rebranded to Ola Energy.
The oil marketer said its new brand will be affected on all its outlets in the 17 countries across Africa where it has market presence.
Ola Energy Kenya general manager Duncan Murashiki said the rebranding was part of the firm’s expansion strategy with more fuel stations expected to opened across the country.
“By the end of 2019, we expect to have more than 100 stations in Kenya with more resources being dedicated into our lubricant market as well as Liquefied Petroleum Gas
Ola Energy which is the local subsidiary of Tamoil Africa Holdings Limited (TAHL) retained its Libyan roots in the rebranding as the new name means Oil Libya Africa.
TAHL group is fully owned by the government of Libya through the Libyan-African Investment Portfolio (LAP), a government agency set up in 2006 to spearhead a $5 billion investment plan in Africa.
TAHL made its debut in the petroleum distribution and marketing business in Kenya in December 2006 after signing an agreement with ExxonMobil Corporation.
The firm did not readily disclose how much it will spend to brand its 1100 stations spread in 17 African countries but its regional board chairman Elmarimi Kashim said they will be keen to gradually phase out the OiLibya tag during the transition expected to be completed by mid 2020.
“You still see a little symbol of OiLibya in our stations as we transit because it’s a brand we have built and we don’t want anyone to imagine were a new company with no experience in this market,” Mr Kashim said.
The firm which also runs three cooking gas bottling plants in Kenya blends its lubricants locally, a market it says will be vital in its revamped business focus on the downstream oil industry.