JOHANNESBURG – Kenyan oil exports are under threat following a deadlock between investors who are locking horns and heading to court.
Major investors in Kenya’s budding oil industry have fallen out acrimoniously, airing their dirty linen in papers filed in court, the Daily Nation reported on Thursday. The companies have been contracted by the prospector, Tullow Oil.
The oil export industry is now under threat as this latest incident comes on the heels of an earlier issue which involved revenue demands by Turkana residents that led to the temporary suspension of oil trucking to the coast.
The protagonists include Kenya’s former National Oil Chief Executive Mwenda Nyaga who has opened a no-holds barred court battle with British businessmen Philip Moore and Craig Bridgman over dealings with East African Oilfield Services (EAOS), a firm registered in the Seychelles.
As Nyaga tries to exit the deal he made with the British businessmen, he is aiming to force them to pay him $300,000 as a refund for his shares.
The Britons accuse Nyaga of theft while he counters that they duped him into thinking EAOS shares were all equal.