The debt-ridden National Oil Corporation (Nock) projects a Sh1.44 billion loss for the year ended June 2020 after it sank deeper into financial turmoil.
Documents tabled in Parliament show that the State agency’s losses will more than triple from the Sh300 million recorded the previous year—complicating matters for the firm already staring at a possible seizure and auction of its assets to pay Sh5.3 billion in defaulted loans.
