Sinopec denies 'red notices' from Interpol on fraud case

Updated 2017-03-22 10:02:46 Global Times/Agencies

Chinese oil giant Sinopec Group, who had reportedly been involved in business fraud, replied on Tuesday that they have yet to receive any red notices from Interpol.

The Interpol issued red notices for those three executives, suspected of fraud linked to a more than 0 million Sinopec oil terminal project in Indonesia, according to the Indonesian police on Tuesday, Reuters reported.

“Both the Sinopec Group and its affiliate, Sinopec Kantons Holdings, have not received the red notices from Interpol, and we found no statement on the reports of red notices on the Interpol website,” Sinopec wrote on Tuesday on its Sina Weibo account.

As an investor in the Indonesia Batam free trade zone project, Sinopec Kantons Holdings is verifying the case, Sinopec wrote.

Sinopec Group, China's leading oil and natural gas producer, also said on Tuesday that Sinopec Kantons Holdings, which holds a 95 percent stake in the PT West Point Terminal project, had business disputes with the local partner on the project, but it is solving the matter through legal channels.

The Indonesian authorities identified the three as West Point Terminal finance director Zhang Jun, chief executive Feng Zhigang and chairman Ye Zhijun, Reuters said.

The Indonesian police did not explain why the red notices were issued.

Sinopec Kantons bought into the project in January 2012, aiming to develop a 2.6 million-tonne storage facility worth more than 0 million, said Reuters.

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