National Oil Corporation of Kenya’s (Nock) proposed deal with French oil major Rubis fell through, dimming hopes of reviving the struggling State-owned oil company.
Sources say the government failed to clear the over Sh10 billion loan that Nock tapped from KCB Group and Stanbic Bank years ago, leading to collapse of the deal. Payment of the loans was one of the key conditions from Rubis Kenya whose parent firm is Paris-based Rubis SCA.
