Singapore Oil Tycoon Ok Lim Sentenced to 17.5 Years for Fraud Scheme
1 month ago
In a significant ruling that underscores the legal repercussions of financial misconduct, Ok Lim, a prominent oil tycoon from Singapore, has been sentenced to 17.5 years in prison. Lim, who was at the helm of a major oil trading firm, was found guilty of orchestrating a large-scale fraudulent scheme that led to substantial financial losses for creditors.
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Oil Majors Restart Talks with Kazakh State on $5 Billion Kashagan Sulfur Fine
3 months ago
In a move that many have anticipated, big oil companies have restarted negotiations with Kazakhstan over a disputed $5 billion fine levied against them for the flaring of sulfur at the gigantic Kashagan oil field. Such renegotiation will have potential implications for the big players in the oil industry and for environmental laws affecting the region.
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