Kenya Pipeline Company (KPC) wants to expand beyond its traditional business of moving fuel. The company aims to raise annual revenue to KSh 68 billion by 2030, Business Today Kenya reported. The new income would come from petroleum trading, fuel storage, re-exports, liquefied petroleum gas (LPG), liquefied natural gas (LNG), biofuels and power generation.
KPC has also proposed extending its pipeline network to Kigali, Nairobi Wire reported. The company presented the plan at an investor roadshow in Kigali on November 1. Acting Managing Director and CEO Pius Mwendwa called Rwanda an important market for KPC's regional expansion. He said the extension would improve supply reliability and efficiency and support regional integration. KPC has not said when the extension would be built.
At the same event, Acting Chief Financial Officer Anthony Ndegwa presented results for the 2025/26 financial year. Profit after tax rose 13% to KSh 11.58 billion. Group revenue grew 9% to KSh 43 billion. The company said it will invest in pipeline expansion, storage capacity and infrastructure modernisation. It will also seek partnerships across East Africa.
KPC's ownership has changed significantly in recent years. The government sold 65% of the company through an initial public offering at KSh 9 per share and kept 35%. KPC shares began trading on the Nairobi Securities Exchange on March 9, 2026.
According to Nairobi Wire, Uganda National Oil Company owns about 20.15% of KPC. Nigerian businessman Aliko Dangote bought about 4.5 billion shares, roughly 24.76%, in a deal worth about KSh 42.5 billion. The purchase made him the second-largest shareholder.
Some political leaders and market commentators have criticised the sale to Dangote. President William Ruto has defended it. He said a private investor had used his own money. He added that the government would not let middlemen buy shares cheaply and resell them for profit. He also pointed to the rise in KPC's share price since the deal.