2009 Triton Oil Scandal

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The 2009 Triton Oil scandal involved the unauthorized release of oil by Kenya Pipeline Company (KFC) without informing financiers. The scandal became public in January 2009.

The release of the oil occurred in 2008 when Triton Oil Company was allowed by KFC to withdraw oil amounting to Kshs 7.6 billion or (US$98.7 million).[1] The company collapsed shortly afterward, withdrawing the oil and selling it to the market.[2]

Triton Oil was owned by Yagnesh Devani. Kenya has issued a warrant to arrest him, but as of January 2010 he was at large and believed to be in hiding abroad.[3]

References[edit]

  1. ^ PWC "Triton Oil Scandal Report",'Scribd', 2010-01-29. Retrieved on 2010-01-29.
  2. ^ "KACC asked to probe $98.7 million Triton oil theft at Kenya Pipeline", The East African, January 10, 2009. Accessed 2009-05-13. Archived 2009-08-16.
  3. ^ Daily Nation, January 2, 2009: [No end to Triton saga one year on http://www.nation.co.ke/business/news/-/1006/834932/-/hejqv2z/-/index.html]