Kenya Pipeline fuel loss hits Sh2bn

Kenya Pipeline Company will be in the spotlight today after the board called for a special meeting with senior managers to explain a fuel loss that has now climbed to 23 million litres — and which insurance firms say they will not pay for.

During a stormy meeting with KPC officials, oil marketing companies refused to make consumer carry the burden.

The shocking revelation is contained in a paper prepared by the KPC Board finance committee, which indicates that the total loss from spillages and the gain/loss stands at 23 million litres as of September 30.

That means the oil marketing companies will be waiting to know the whereabouts of fuel valued at more than Sh2.3 billion, which they purchased.

Source: Daily Nation

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...