Energy and Petroleum News Update

National Oil signs supply partnership with Equity Bank

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National Oil Corporation is partnering with Eqwipetrol and Equity Bank to improve supply of petroleum and related products across the country.

National Oil Corporation Chief Executive Officer Mary Jane Mwangi said that a total of 432 petroleum outlets across the 47 counties will be used as delivering points.

“We have already entered into a partnership with our outlets, that is 132 petrol stations belonging to National Oil Corporation and other 300 independent retail petrol stations under the Eqwipetrol partnership,” the CEO said.

The partnership was officially endorsed on Tuesday by the National Oil Corporation CEO, her counterpart at Eqwipetrol Shiru Mwangi and Equity Bank head of products and marketing Peter Kitheka, during a ceremony held at a Nairobi hotel and witnessed by outlets owners.

The partnership has developed an online platform for their business transactions named Eqwipetrol, where payments will be done and orders placed by retailers.

“Payments will be paid on real time and on cash basis. The platform has been made as seamless as possible such that it even includes auto assignment of transport trucks to move the products from the depot to the retailers fuel stations on demand,” Shiru Mwangi said.

She said National Oil Corporation will provide Kenyans with access to clean and affordable quality petroleum products. They target to enter into partnership with up to 1,200 independent retailers outlets, aimed at taking the supply near the users.

Several other products under the Eqwipetrol business include Supa gas, government’s Mwananchi gas, and assorted oil lubricants among others.

Kitheka said the owners of Eqwipetrol outlets will be able to access loan facilities at the bank easily for their petroleum business, since they are business partners.

Information, Communication and Technology Cabinet secretary Joe Mucheru, who also graced the occasion, lauded the embracing of technology in petroleum supply chain.

He noted that their partnership was in line with the government’s four key agendas and that technology was an enabler for efficiency and effective services to Kenyans, as well as the country’s development.

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