Oil services firm Nabors Industries Ltd. said Wednesday the DOJ won’t bring an FCPA enforcement action after an investigation first launched more than five years ago.
Oil services firm Nabors Industries Ltd. was a customer of Panalpina but not among the six that settled FCPA cases on the same historic day in November 2010.
Panalpina, a Swiss-based logistics firm, admitted paying bribes to help customers move their drill rigs and other equipment in and out of Kazakhstan, Saudi Arabia, Algeria and Nigeria, among others.… Continue Reading
Compliance concerns have forced Swiss logistics giant Panalpina to withdraw completely from the Nigerian domestic market. It said in its 2008 half-yearly report (available here) that it will sell its local operations to a Nigerian group and retain no ownership or operating interest.… Continue Reading
In its Annual Report and Form 20-F for the year ended December 31, 2007, Royal Dutch Shell plc includes a Foreign Corrupt Practices Act disclosure. It relates to the Department of Justice’s ongoing investigation of Panalpina.… Continue Reading
The Houston Chronicle reports that Nabors Industries is conducting an internal investigation in response to a federal investigation into possible violations of the Foreign Corrupt Practices Act. The article says,
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The Justice Department is investigating alleged Foreign Corrupt Practices Act violations by oil-service companies that used Panalpina [a Swiss based freight forwarder] and other brokers in Nigeria and other parts of the world, the company said.