Innospec Developments Reply

According to media reports, Indonesia’s Corruption Eradication Commission (Indonesian abbreviation “KPK”) named a local agent for Innospec as a suspect in the Innospec bribery matter and charged the agent under Indonesian anti-corruption laws. According to media reports quoting a KPK spokesperson, Willy Sebastian Liem allegedly received over $17.48 million in commissions from Innospec and also channeled money to officials at the Energy Ministry, upstream oil and gas regulator BPMigas and state oil company Pertamina. The entire Innospec TRACE Compendium summary may be accessed here.

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