Vivo Energy has recorded a Ksh25.96 billion revenue jump in the six months ended June 2022, brought about by an increase in fuel consumption.
As a result, the group has posted Ksh110.55 billion in revenues in the first half of the year, which is a 30.6 percent jump from the previous Ksh84.59 billion in a similar period in 2021.
Operating in 23 countries in North, West, East and Southern Africa, Vivo Energy has a vast network of over 2400 service stations and with the recent rise in revenues, Vivo Energy Kenya has managed to cement itself as the biggest African market for shell-branded fuel products beating Senegal and Morocco.
As of March, Vivo Energy Kenya held a 26.52 per cent share of the local petroleum sales market. As part of its expansion plans, the company hopes to open 20 fuel stations nationwide by the end of the year.
A litre of super retailed at Ksh159.12 in June from Ksh127.14 in the same month last year in Nairobi while that of diesel sold at Ksh140 from Ksh107.66 in the period.
Email your news TIPS to firstname.lastname@example.org