The Kenya Pipeline Company (KPC) has recorded a Sh10 billion profit before tax for the financial year ending June 30, 2024, marking a 32 percent increase from Sh7.6 billion in the previous year.
The growth is attributed to a 15 percent rise in revenue, which grew from Sh30.9 billion to Sh35.4 billion, driven by increased sales volumes and favorable forex rates.
Total throughput volumes rose by six percent to 9.1 million cubic meters (M³). Domestic volumes saw a slight increase to 4.5 million M³, while exports surged by 12 percent to 4.7 million M³, reflecting KPC’s improved operational efficiency.
KPC Board Chairperson Faith Bett-Boinett linked the strong performance to efficiency improvements.
“Our revised Vision 2025 Strategic Plan ensures we remain responsive to market dynamics while maintaining operational excellence. The recent ISO Integrated Management System (IMS) certification further reinforces our commitment to global standards,” she stated.
Managing Director Joe Sang reaffirmed KPC’s dedication to sustainable growth and innovation.
“We are committed to investing in our people, infrastructure, and technology to exceed customer and stakeholder expectations. The next phase of our journey will be defined by excellence, resilience, and vision.”
Sang also announced KPC’s acquisition of Kenya Petroleum Refineries Limited (KPRL), which the company had operated under a lease since 2017. The move is aimed at leveraging KPRL’s fuel storage assets to strengthen Kenya’s position as a regional oil and gas hub.
To enhance efficiency, KPC is investing in key projects, including a leak and intrusion detection system, the Supervisory Control and Data Acquisition (SCADA) system, the Line IV (Nairobi-Eldoret) capacity enhancement, and the Nairobi Terminal (PS10) bottom loading facility.
Beyond its core role in petroleum transportation and storage, KPC is exploring alternative revenue streams such as fiber optic cable services, Morendat Institute of Oil and Gas (MIOG), and investments in Liquefied Petroleum Gas (LPG).
