China police detain two employees of BP venture and others for investigating the illegal fuel trade
Apr.20,2021

Police in China's Guangdong province have detained several people, including two employees of a joint venture owned by oil giant BP plc (NYSE:BP), in an investigation into illegal fuel trading, three sources familiar with the matter said.

The arrests come after Guangdong, China's largest fuel-consuming province, launched an investigation in February into suspected illegal trading in light cycle oil (LCO) between 2018 and 2020, one of the sources said.

Guangdong police have issued detention orders for more than 70 people in the investigation. The detention list includes at least two trading managers of BP Guangzhou Oil Products Development Co, according to the source and another person familiar with the matter.

An executive at the joint venture said some employees were "cooperating with police investigations" but would not comment further.

BP would not comment.

Media officials from the Guangdong Provincial Public Security Department said they had no information to respond.

Source: https://www.reuters.com/world/china/china-police-detain-2-staff-bp-venture-others-fuel-trade-probe-sources-2021-04-20/

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