[PHOTO: FILE/standard]French oil major Total Outre Mer is set to become the dominant player in East Africa’s oil industry with the acquisition of Gulf African Petroleum Corporation (Gapco). The Paris-headquartered firm, with well-established links through Total Kenya, Total Uganda and Total Tanzania, will now enjoy the full economies of scale in both downstream and upstream sectors, riding on the massive assets of Gapco. It acquired Elf Oil Kenya Ltd and Chevron Kenya Ltd (Caltex) in 2000 and 2009 respectively to become the largest oil and gas marketer in Kenya. Lowest priceIndustry data from Petroleum Institute East Africa (PIEA) by close of September showed Gapco dominated imports followed by Total Kenya. Therefore, in the absence of Gapco, Total is set to dominate the oil import business in Kenya.

Source: Standard Digital February 12, 2017 21:00 UTC