NAIROBI, Sept 24 (Reuters) - Kenyan fuel marketer KenolKobil has ended its row with the country's sole refinery and expects its crude oil import licence to be re-instated, the company said on Friday.
Under a deal brokered by the top official at the east African nation's ministry of energy, Patrick Nyoike, KenolKobil will pay the refinery 600 million shillings ($7.39 million) in processing arrears and will drop all legal suits against the refinery.
In early Friday trading, KenolKobil was the bourse's biggest gainer, jumping 9.5 percent to 10.35 shillings.
The long-running dispute hurt its share price, which at the height of the row fell almost 20 percent from a July high of 11 shillings.
Pump prices had also gone up as a result of the dispute as marketers anticipated a supply squeeze after the energy regulator revoked the licence of the group, which supplies about a fifth of the Kenyan market.
KenolKobil has operations in seven African countries. (Reporting by Duncan Miriri; Editing by Michael Shields)