OiLibya now changes its name to Ola Energy
What you need to know:
- 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 effected on all its outlets in 17 countries across Africa.
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 effected on all its outlets in 17 countries across Africa.
Ola Energy Kenya general manager Duncan Murashiki said the rebranding is part of the firm’s expansion strategy that will see more fuel stations opened across the country. The new name is a short form of Oil Libya Africa. “By the end of 2019, we expect to have more than 100 stations in Kenya with more resources being dedicated to our lubricant market as well as liquified petroleum gas,” said Mr Murashiki.
Ola Energy started the 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 would spend to brand its 1,100 stations spread in 17 African countries but 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 will 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 we are 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.
