National Oil Corporation of Kenya is aiming to sell its 2004 constructed Nairobi petroleum depot.

The company said in a statement: “In this regard, National Oil is interested in engaging the services of a reputable transaction adviser to come up with a suitable valuation of the facility as well as guide the corporation during the transaction.”

The terminal, which was expanded rights years ago, sits on a five-acre plot of land has a capacity of 4.5 million litres and is linked to a nearby depot owned by Kenya Pipeline Company (KPC).

It is expected that KPC will bid for the facility. Nock said: “National Oil, therefore, intends to enter into a sale or long term lease transaction for this facility with the identified bidder.”

The KPC also expanded its product storage capacity through leases of existing depots in Mombasa and Nairobi.

The National Oil Corporation of Kenya is a fully integrated State Corporation involved in all aspects of the petroleum supply chain covering the upstream oil and gas exploration, midstream petroleum infrastructure development and downstream marketing of petroleum products.

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14th Sept 2017

14th September 2017