Singapore-listed Interra Resources Limited is facing intensified criticism from Justice For Myanmar (JFM) over its continued business ties with the junta-controlled Myanma Oil and Gas Enterprise (MOGE).
In response to Interra’s 6 February 2025 statement, JFM argued that the company’s contractual agreements with MOGE do not absolve it of responsibility.
In collaboration with UK-based Finance Uncovered, JFM had earlier released its investigation revealed that Interra has supplied over 2.3 million barrels of crude oil to Myanmar’s military junta since its February 2021 coup attempt.
Valued at over US$150 million, this oil supply has sustained the junta’s campaign of terror, marked by war crimes and crimes against humanity.
The activist group claims that Interra’s operations contribute to the military’s war crimes, despite the company’s assertion that it has no control over how the oil is used.
JFM directly challenged Interra’s assertion that its contracts were signed before Myanmar’s 2021 coup and therefore do not implicate the company in the military’s actions.
“The fact that the IPRCs [Improved Petroleum Recovery Contracts] were entered into before the military coup attempt in 2021 cannot provide an excuse for the company’s decision to continue business with MOGE after the military illegally seized control,” said JFM spokesperson Yadanar Maung.
Interra had claimed it has “no control over or power to dictate how MOGE distributes or uses the oil that is produced by GJOC [Goldpetrol Joint Operating Company].”
However, JFM countered that this reasoning fails to acknowledge the company’s obligations under international law.
“By continuing its contract with MOGE, Interra Resources appears not to be using its contractual rights to prevent the oil GJOC produces from being potentially used in the commission of war crimes,” Maung added.
The group also accused Interra of misleading statements regarding its oil production levels.
While Interra denied ramping up output post-coup, JFM pointed to the company’s own financial disclosures, which indicated an increase in shareable oil production between 2021 and 2023.
“Production was suspended for two months after the coup attempt, but the company has since ramped up output,” JFM said, citing data from Interra’s reports.
Additionally, JFM questioned Interra’s financial transactions with MOGE, urging the company to disclose which banks it uses for payments.
According to leaked financial documents, MOGE paid GJOC over US$11 million through junta-controlled Myanma Foreign Trade Bank in 2022. JFM warns that payments could be routed through alternative banks to evade sanctions.
“There is a risk that MOGE could switch the bank it uses to pay GJOC in order to evade sanctions,” the group stated.
JFM also criticised Interra’s decision to resume operations in July 2021, despite widespread reports of human rights abuses by the junta.
“By July 16, 2021, the day Interra Resources made an agreement with MOGE to resume operations, the junta had killed 912 people and arbitrarily arrested 6,770,” JFM noted, citing data from the Assistance Association for Political Prisoners.
The group argued that the company was well aware of the military’s escalating crimes yet chose to proceed with business as usual.
Calling for regulatory action, JFM urged the Singapore government and SGX to investigate Interra Resources, its leadership, and its financial transactions.
“Interra Resources, GJOC, and their senior leadership could potentially face civil liability or criminal sanctions if it is proven that their actions facilitated illegal activities,” JFM warned.
The group also called for Interra’s continued suspension from trading unless it ceases business with MOGE.
Interra Resources has yet to publicly address JFM’s latest accusations but remains under trading suspension while seeking legal advice on compliance with foreign laws.
