US-sanctioned LPG shipper ‘categorically’ denies wrongdoing
- Dubai-based Octane Energy Group was sanctioned by the US on Monday for purchasing Iranian energy commodities, but the company strenuously denies the allegations
- Octane Energy was the shipper of an LPG cargo whose suspected Iranian origins were contested by Bangladeshi importers
- The company told Lloyd’s List it had bought the cargo from another UAE trading house and no irregularities were found during due diligence
An LPG cargo discharged in Bangladesh last October stirred controversy because of its suspected Iranian origins, prompting a probe from the Chittagong Port Authority. On Monday, the US sanctioned the shipper of that cargo, Dubai-based Octane Energy Group, but the company ‘categorically’ denies any involvement in Iranian oil trades
