2009 Triton Oil Scandal
Encyclopedia
The 2009 Triton Oil scandal involved the unauthorized releasing of oil
by Kenya Pipeline Company
(KPC) 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 KPC to withdraw oil amounting to Kshs
7.6 billion or (US$98.7 million). The company collapsed shortly afterward, withdrawing the oil and selling it to the market.
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..
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
by Kenya Pipeline Company
Kenya Pipeline Company
Kenya Pipeline Company is a state corporation that has the responsibility of transporting, storing and delivering petroleum products to the consumers of Kenya by its pipeline system and oil depot network....
(KPC) 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 KPC to withdraw oil amounting to Kshs
Kenyan shilling
The shilling is the currency of Kenya. It is divisible into 100 cents.-Coins:The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, and 1 and 2 shillings. Twenty-five cents coins were not minted after 1969; 2 shillings coins were last minted in 1971...
7.6 billion or (US$98.7 million). The company collapsed shortly afterward, withdrawing the oil and selling it to the market.
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..