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Illegal Fuel Trade Probe Detains Six Employees of BP’s South China Venture

2021年05月04日 19:57 来源于 财新网
Workers at BP Guangzhou Development are among hundreds held in connection to illicit sales of lower-taxed light cycle oil, sources say
The Asian nation’s illicit LCO trade has thrived for years under tax rules exempting it from the consumption duty applied to diesel. Photo: VCG

Police detained six employees of a BP PLC (NYSE: BP) joint venture in South China as part of an investigation into suspected illegal fuel trading.

The detentions, made in mid-April but revealed here for the first time, were among hundreds across the fuel supply chain of the southern province of Guangdong made during a probe into illicit sales of light cycle oil (LCO), a lower-taxed fuel sometimes blended with diesel to make it go further.

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