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PetroKenya Could Be A Victim Of Circumstances In The NYS Saga, Details Emerge

Details have emerged that PetroKenya Oil could be a victim of circumstances in the NYS scandal after a misunderstanding with the authorities of the National Youth Service (NYS).

According to documents obtained by Kahawa Tungu’s Investigative Desk, the NYS delayed payment meant for PetroKenya, which had been subcontracted by Horizontal Limited.

In turn, PetroKenya was forced to acquire a loan of Ksh53,500,000 from Equity Bank to service its creditors. With NYS still holding payments, PetroKenya was unable to service the loan as of August 31, 2016, prompting the bank  to launch a formal demand of the loan through writing.

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