Official Statement by Lex Oil LLC in response
to some adverse media publications
We deny all false allegations brought against Lex Oil LLC by some local and international media outlets about our illegal deals with the major trading houses. Such groundless accusations have no intention other than to mislead the public and damage the reputation of our Company and our long-term business partners.
Being one of the leading enterprises in Mongolia, Lex Oil LLC success story bothers some market players and/or forces standing behind them. Therefore, we believe such adverse publications could be orchestrated by some of our opponents.
Lex Oil LLC has managed to establish an effective cooperation with many business partners including with some top international trading houses. It is obvious that any business relationship assumes reconciliation of accounts payable, receivables, and profit and loss accounts arising from our mutual business cooperation. However, Lex Oil LLC does not have any issues with its business partners falling under the scope of any wrongdoings or breach of law.
Lex Oil LLC is fully compliant with all relevant laws and regulations in Mongolia and the best international industry practice, and we have full transparency on all of our business activities. We also confirm that all information reported in some media outlets about our Company being subject to criminal investigation by relevant government and/or law enforcement agencies is false and unfounded. Lex Oil LLC is open for a cooperation with any authorities if they have any questions with respect to its activities.
We strongly recommend all local and international media outlets to verify carefully all facts and evidence before being engaged into disseminating defamatory information. We also urge all those media outlets to include this statement in full in their future publications about Lex Oil LLC.
In the meantime, we reserve all our rights to protect our business reputation.
LEX OIL LLC
02 April 2025, Ulaanbaatar