BP has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore's Hontop Energy, three people familiar with the matter said.
has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore's Hontop Energy, three people familiar with the matter said.
FILE PHOTO: The logo of BP is seen at a petrol station in Kloten, Switzerland October 3, 2017. REUTERS/Arnd Wiegmann The decision was made this week, the people said. The staff had been placed on leave in early July while BP conducted its probe.The improper use of the WeChat messaging platform as a tool for commercial discussions with counterparties was cited as a factor behind the terminations, one person said.
The bank claimed it had agreed to provide financing to Hontop to purchase oil that would be sold on to BP, and Hontop provided the names of specific traders at BP as proof of the contract. When CIMB sought payment from BP in February, the oil major told the bank that the contract and payment had been subject to a separate agreement between BP and Hontop. Since it had not received payment from Hontop, it was not obliged to pay Hontop or CIMB for the cargo, the affidavit said.Hontop is the Singapore-based trading arm of independent refiner China Wanda Holding Group Co Ltd.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
BP sacks crude oil staff amid probe into China dealingsBP has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore's Hontop Energy, three people familiar with the matter said.
Weiterlesen »
BP Bets Future on Green Energy, but Investors Remain WaryBP has unveiled the most aggressive plans yet by a major oil company to pivot toward cleaner energy. But the revamp has so far failed to ignite enthusiasm among investors despite growing interest in renewables.
Weiterlesen »
China to launch Google antitrust probe at Huawei's request: Report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Weiterlesen »
High road at Chilling: India builds Himalayan bridges and highways to match ChinaLigen Eliyas deftly turns the excavator's hydraulic arm to push a huge boulder into the Zanskar river below in a cloud of dust, clearing another bit of land for a strategic highway that India is hurriedly building near the Chinese border.
Weiterlesen »
Trump-Biden Debate Prompts Shock, Despair and, in China, GleeBRUSSELS -- The unedifying spectacle of Tuesday night&39;s presidential debate produced some shock, some sadness and some weariness among U.S. allies and rivals alike Wednesday.As President Donald Trump bellowed, blustered and shouted down both the moderator, Chris Wallace, and his opponent, former
Weiterlesen »
Tesla cuts starting price for China-made Model 3 cars by 8%U.S. electric car maker Tesla cut the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account, according to its China website.
Weiterlesen »