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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Two Ghanaian oil companies at the centre of a $94.35 million fraud petition filed by Swiss trading firm Petraco Oil Company SA have issued rebuttals, denying any wrongdoing and describing the matter as a contractual dispute rather than criminal conduct.
In separate formal responses following its Monday, June 23 publication detailing the contents of Petraco’s petition to the Economic and Organised Crime Office (EOCO), both Springfield Exploration & Production Ltd. (SEP) and GMP Energy Ltd. dismissed the allegations as baseless, misleading, and commercial in nature.
Source: newsthemegh.com