This archive report was first published on 6 December 2019.
On December 6, 2019, Chinese oil giant Sinopec made its official entry into the Kenyan market, marking a significant milestone in the country's oil industry.
The company's arrival is expected to bring stiff competition to existing players such as Total and Vivo Energy.
According to industry forecasts, the African Automotive Lubricants market is poised for rapid growth, with the regional market expected to grow to 6% of the global market by 2029.
As a leading Chinese oil and gas enterprise, Sinopec is based in Beijing, China, and is listed on the Hong Kong, Shanghai, and New York stock exchanges.
The company's business operations include oil and gas exploration, refining, and marketing, as well as storage and pipeline transportation of crude oil and natural gas.
With its diverse range of products, including biofuels such as biodiesel and green jet fuel, Sinopec is well-positioned to capitalize on the growing demand for sustainable energy solutions in the region.
