Taxpayers could have lost in excess of Sh5.1 billion at the graft-ridden Kenya Pipeline Company in the financial year ending June 30, last year. The state oil corporation was in the news after its directors were charged with the loss of Sh1.9 billion in the construction of Kisumu Oil Jetty. Even before the dust settled, KPC is beset with questions regarding the unutilised jetty whose assets have depreciated by Sh11 million. The report, tabled in Parliament last Thursday, says the Sh1.9 billion owed to the oil marketing company is doubtful. The auditor has further questioned the payment of Sh1.7 billion claimed by a contractor working on the Mombasa-Nairobi oil pipeline.

Source: The Star February 18, 2019 03:33 UTC