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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

Search Results for: label/Oil For Food

‘Resource curse’ still haunts Uganda, Kenya

[…] creates uncertainty about what taxes and levies are due to the government. The uncertainty causes reluctance to make any investments to extract the oil. 
In 2010, for example, Tullow Oil acquired the assets of another oil exploration company called Heritage Ltd for $1.45 billion. There was confusion under the tax code which […]

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The Gallic Shrug

French energy giant Total S.A. said bribery allegations it disclosed last week for its role in the U.N. oil for food program in Iraq are nothing new. A Paris judge brought the charges on February 22, the company said in its annual report released Friday. They […]

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‘Crude Intentions’ cuts through the bling of natural resource corruption

Alexandra Gillies, who sometimes writes for the FCPA Blog, has published a new book, Crude Intentions: How Oil Corruption Contaminates the World. I recently spoke with her about the book and her wider work.
RB: Congratulations. Crude Intentions is a great read with super reviews, and I highly recommend it. Why did you decide to […]

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Cobalt’s Blind Date

Oil is big business. And it leads some companies to take big risks with FCPA compliance.
Take Cobalt International Energy, Inc., for example.
In its annual report filed with the SEC on March 1, Cobalt repeated a disclosure, of sorts, about FCPA compliance in an Angolan development project.
The company […]

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Innospec’s $40 Million Global Settlement

[…] Innospec Inc. resolved more than a dozen criminal charges in the U.S. and U.K. today, including Foreign Corrupt Practices Act (FCPA) and U.N. oil for food program offenses, and violations of the U.S. embargo against Cuba.
The Delaware company pleaded guilty to a 12-count criminal information charging […]

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Report: Rich Azerbaijan oil deal points to insiders

[…] worth about $500,000 a day at current prices.
Bahar Energy shares an address in Baku with companies linked to Hafiz Mammadov’s Baghlan Group.
Mammadov bought sponsorship rights for the football club Atletico Madrid, which has “Azerbaijan: Land of Fire” on its jerseys. And he owns the French football club Lens.
“When the agreement with SOCAR […]

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Grynberg v. BP et al

[…] executives. The core allegation is that the defendants, without Grynberg’s knowledge and using some of his money, bribed officials in Kazakhstan in order to win oil rights for joint ventures in which Grynberg had an interest.
A friend sent us a copy of Grynberg’s complaint. It alleges facts which, if true, would violate the Foreign […]

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Tip for success: Strike oil

[…] not its mineral rights. – J. Paul Getty   
2. Don’t blame the marketing department. The buck stops with the chief executive. – John D. Rockefeller   
3. Prospecting for oil is a dynamic art… The greatest single element in all prospecting, past, present and future, is the man willing to take a chance – Everette DeGolyer  […]

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AB Volvo Settles FCPA Charges For $19.6 Million

[…] and a deferred prosecution agreement with the Department of Justice to resolve Foreign Corrupt Practices Act violations in Iraq caused by two subsidiaries under the U.N. Oil for Food Program. The settlements include financial penalties, disgorgement and interest of about $19.6 million.
AB Volvo was charged with violating the FCPA’s books and records and […]

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