KPC’s exposure in Triton scam drops to Sh6bn

The Kenya Pipeline Company’s exposure in the Triton oil scandal dropped to Sh5.7 billion after independent investigators hired to unmask the people behind it significantly reduced the amount of products that were irregularly released to the oil marketer before its collapse in December 2008.

Triton’s financiers had initially claimed that they lost 122,200 metric tonnes of oil products in the deal worth Sh7.6 billion based on the then price of Sh60 per litre of petrol, but PricewaterhouseCoopers (PwC) — the audit firm that the government hired to unearth the scam — revised the figure to 96,000 metric tonnes worth Sh5.6 billion.