Latest News

Kenya fuel executives resign as state probes supply chain irregularities

The office of President William Ruto announced on Saturday that senior executives in Kenya's Energy Sector resigned after being accused of manipulating fuel stock data and procuring a 'emergency cargo' at inflated prices.

Ruto accepted Mohamed Liban's resignation as principal secretary for Petroleum. The Kenya Pipeline Company also confirmed that Joe Sang had resigned from his position as managing director.

According to the?statement, Daniel Kiptoo Bargoria has also resigned as director general of the Energy and Petroleum Regulatory Authority.

It said that a formal investigation was launched into alleged irregularities within?Kenya’s petroleum supply chain.

The government claimed that the manipulated data had been used to 'justify' the importation of fuel despite existing contracts with Saudi Aramco Trading Fujairah Ltd., Abu Dhabi’s ADNOC Global Trading Ltd. and Emirates National Oil Company Singapore Ltd. All of these companies are fulfilling their contractual obligations.

The emergency shipment, it claimed, was overpriced and of poor quality. It also claimed that the rates were significantly higher than what had been agreed in existing agreements.

The statement stated that "this appears to have been done in order to exploit rising global prices and public anxieties, thus creating a false impression of an impending shortage."

Fuel?supply issues linked to the Iran conflict have affected the global energy market.

The statement stated that administrative action was taken against other officials, and?arrests were made by investigative agencies'.

The arrestees were not identified. No charges have been filed. Reporting by Humphrey Malolo; Writing by Isaac Anyaogu; Editing by Bate and Ali Williams.

(source: Reuters)