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Sh7.6b Triton oil scandal still remains unresolved

COUNTIES
By Allan Kisia | January 26th 2015

The 2008 Triton Oil Company scandal remains one of the country's biggest and recent corruption cases that are yet to be concluded.

The scam involved the unauthorised release of oil by the Kenya Pipeline Company (KPC) in 2008 without informing financiers.

Triton, owned by runaway tycoon Yagnesh Devani, was allowed by KPC to withdraw oil amounting to Sh7.6 billion. Mr Devani is charged alongside Julius Kilonzo, Collins Otieno, Mahendra Pathak and Benedict Mutua with defrauding KPC.

Devani fled the country in 2009 and a warrant of arrest was issued against him. He was arrested in the UK.

In September last year, an assistant Director of Public Prosecutions Victor Mule told the trial court that he would not amend the charge sheet but would like to proceed with the trial in the absence of Devani, who is the first accused in the case.

In the same month, a UK court ruled in favour of extraditing Devani to Kenya. He is, however, yet to be extradited.

Devani's deal was unearthed in 2008, when the country witnessed fuel shortage and numerous complaints by oil marketers and financiers that prompted KPC to order an internal audit of oil stocks in its systems.

The audit revealed stocks amounting to 126.4 million litres were irregularly and illegally released to Triton Petroleum Ltd between November 2007 and November 2008.

Triton was not entitled to the stocks, nor did financiers authorise the release as required under contractual arrangements.

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