Skip to content


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

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

World Bank debars German oil and gas contractor

The World Bank debarred a German construction and engineering company that serves the oil and gas industry Wednesday for thirteen months for a fraudulent practice connected to a project in Myanmar.

Ferrostaal Oil & Gas GmbH acted as the Myanmar-based partner of another company and as an agent to prepare a bid for a contract.

Ferrostaal Oil & Gas’ local representative and managing director instructed the partner company not to disclose the agreed commission to be paid to Ferrostaal Oil & Gas in the initial bid. Ferrostaal Oil & Gas did not correct this omission in a later amendment to the contract.

That was “a fraudulent practice under the World Bank Group procurement guidelines,” the World Bank said.

The $100 million World Bank-funded Ayeyarwady Integrated River Basin Management Project was designed to strengthen integrated, climate-resilient management and development of the Ayeyarwady River.

Ferrostaal Oil & Gas is one of five operating units of the Ferrostaal Group, a German industrial services company that develops projects and provides engineering, procurement, and construction services. The group has around 200 employees globally, according to its website.

During the thirteen-month debarment, Ferrostaal Oil & Gas is ineligible to participate in projects and operations financed by the World Bank Group.

The debarment qualifies for cross-debarment by the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the African Development Bank.

A list of all World Bank debarred entities and individuals is here.

Share this post


Comments are closed for this article!