KACC asked to probe $98.7 million Triton oil theft at Kenya Pipeline
Cracking the whip: Energy Minister Kiraitu Murungi directed that KPC’s current external auditors immediately conduct a comprehensive forensic audit of all products held in the pipeline to determine its ownership. Photo/FILE
A day before the dramatic sacking of Kenya Pipeline Company Ltd (KPC) managing director George Okungu late last Friday, Energy Minister Kiraitu Murungi had instructed the Kenya Anti-Corruption Commission to move into the firm to investigate the circumstances under which millions of litres of petroleum held in trust on behalf of financiers and international traders were irregularly released to the troubled Triton Oil Company.
It is a scandal that has left several leading international companies involved in financing oil imports into Kenya, Uganda and Rwanda as well as the Kenya Commercial Bank — who had all financed Triton to import the oil — at risk of losing a whopping Sh7.6 billion ($98.7 million) as a total of 126.4 million litres was released to Triton without their authorisation or knowledge.
