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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Panalpina’s Problems Keep Spreading

Schlumberger N.V., the world’s biggest oil and gas services company, is among the dozen or more firms in that industry being investigated in connection with Panalpina’s freight-forwarding and customs clearance practices. Schlumberger made the disclosure in its October 24, 2007 quarterly filing with the U.S. Securities and Exchange Commission. It said in full:

“In July 2007, Schlumberger received an inquiry from the United States Department of Justice (‘DOJ’) related to the DOJ’s investigation of whether certain freight forwarding and customs clearance services of Panalpina, Inc., and other companies provided to oil and oilfield service companies, including Schlumberger, violated the Foreign Corrupt Practices Act. Schlumberger is cooperating with the DOJ and is conducting its own investigation with respect to these services.”

Schlumberger trades on the New York Stock Exchange under the symbol SLB.

View Schlumberger’s Form 10-Q for the period ending September 30, 2007 Here.

View other posts about the Panalpina-related investigations Here.

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