Arab Today, arab today complaint filed against exstate oil firm chief over takeover deal in korea
Last Updated : GMT 21:55:33
Arab Today, arab today
Arab Today, arab today

Complaint filed against ex-state oil firm chief over takeover deal in Korea

Arab Today, arab today

Arab Today, arab today Complaint filed against ex-state oil firm chief over takeover deal in Korea

Oil platform in the Thunder
Seoul - Yonhap

The state audit agency said Friday it has filed a complaint with the prosecution against a former chief of the state-run oil company for incurring a huge loss from a shady takeover deal he led while in office.
The move came after the Board of Audit and Inspection of Korea found that the Korea National Oil Corp. (KNOC) suffered a loss of around US$279 million in the firm's shady acquisition of the Canadian refining firm, North Atlantic Refining Limited (NARL), in 2009.

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