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Business & Finance

Reuters exclusively reports millions of dollars in oil snarled because of Singapore firm

Reuters exclusively reported that millions of dollars of oil stored in tanks and ships in Asia and Europe have become caught in a web of lawsuits related to trade and financing deals by Singapore’s Hin Leong Trading (Pte) Ltd.¯ A report filed in Singapore’s High Court and reviewed by Reuters found Hin Leong obtained financing from various banks for cargoes of oil which did not exist, complicating the competing claims of ownership.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop