Interra Resources Ltd on Thursday revealed that Justice from a trading on the Singapore stock exchange after its finances revealed, revealing that justice from Myanmar’s activist group has provided millions of oil to the Myanmar military. I asked to stop.
An investigation published last week shows Interla’s Myanmar joint venture has provided over 2.3 million barrels of oil to the junta since it took power in a 2021 coup and plunged the country into the Civil War. I did it.
Over US$150 million in oil has been refined at military control processing facilities that have produced military diesel and aviation fuel as it launched a brutal campaign of war crimes against civilians.
Within two days of being issued by the FU and JFM, the Singapore Exchange (SGX) regulators had contacted Interla with questions regarding Myanmar’s operations, Interla revealed in a statement today.
“The company will immediately and effectively request that the company suspend the trading securities as it requires more time to prepare answers to SGX queries,” he said.
Myanmar’s military has been accused of committing widespread atrocities against civilians as they have fought armed groups across the country, killing thousands and chasing millions away. The Air Force was attacked by schools, destroying evacuation camps and destroying the entire community that the United Nations said was a campaign of war crimes and crimes against humanity.
Goldpetrol Joint Operating Company Inc, a joint venture of Interra, is one of the few oil companies still operating in Myanmar amidst the violence. According to calculations from FU and JFM, in 2022 it accounted for around 40% of the country’s overall production.
All Goldpetrol oil is fed to the military-controlled Myanma Oil and Gas Enterprise (MOGE) approved by the EU and the US, and then sent to be processed at Mann refineries that make gasoline, high-speed diesel and aviation fuel. It was done. For the military.
As a Singapore-based company, Interra is not subject to these sanctions. However, SGX has rules that allow businesses to halt violate international sanctions, and has taken action against another company that previously did business with the Myanmar military.
When asked to comment on the investigation, Interla said that he had to fulfill his “contractual obligations” and that he continued to supply Morge with oil after the military regime seized power.
On Thursday, Interra said the stock suspension “should not be taken to imply that there was fraud on the part of the company.”
“If the issue raised in the SGX query becomes clear, the company will request that the transaction be lifted.”
*Main image: Myanmar’s Gold Petrol Oilwell is 60% owned by Interla (Source: Facebook)
