Mercantile & Maritime updates operational procedures to comply with OFAC sanctions of March 12, 2020

SINGAPORE, 12 March 2020: As a global business operating across the oil and gas value chain, Mercantile & Maritime always operates in full compliance with all international trade laws and maritime regulations.

We are monitoring updates from the Office of Foreign Assets Controls (“OFAC”) and are continuing with the wind down of our impacted operations in line with the specified timeline. This includes the termination of any activities linked with Venezuela.

Mercantile & Maritime has long-established compliance procedures and internal controls in place to ensure we are compliant with the applicable rules and regulations in the territories in which it operates.

We will continue to monitor developments.

ENDS

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