The Public Investments Committee on Commercial Affairs and Energy has declared the National Oil Corporation technically insolvent and questioned its deal with a private fuel station chain in Kenya.
A session scheduled by the committee with NOCK officials on Thursday was also suspended, with the MPs citing grave concerns over the financial mismanagement and rising debt.
Led by Pokot South MP David Pkosing, the committee also flagged a troubling lack of transparency in the state organisation's partnerships. "The National Oil Corporation is no longer a going concern.
We are staring at a dead agency that can neither meet salaries nor sustain operations," MP Pkosing declared.
