28-08-09 Petroleum company KenolKobil has announced that it acquired absolute shareholding of Oil Burundi, which was formerly owned by South African Petroleum Giant Engen International Holdings.
The acquisition by Kobil Uganda's parent company was made in a move to expand its operations on the African continent, according to the firm. KenolKobil already has operations in Uganda, Tanzania, Ethiopia, Zambia and Rwanda, signed a multimillion dollar deal in Bujumbura that made it acquire100 % ownership of the company.

The moves closely follow the take-over of Caltex and Chevron operations by French Oil giant Total in East Africa, in a move to strengthen its market position in the region.
KenolKobil's Group Managing Director, Mr Jacob Segman, said upon acquiring Oil Burundi Company, the company is expected to grow further and become the leading lubricants in Burundian petroleum market as it was is Rwanda.

"As was the case in Rwanda, where Kobil Rwanda was established from scratch, but now is the Market leader with over 35 % market share," Mr Segman said. "Kobil Burundi which also is the leading Lubricants distributor in Burundi is expected to lead the Burundian petroleum market (soon)."
Through the new acquisition, Kobil Burundi has acquired the rights to import, store and distribute products in the only depot in Bujumbura, Burundi.