Vantage Drilling International agreed to disgorge $5 million to the SEC Monday to settle FCPA internal accounting controls offenses related to drilling services contracts with Petrobras.
It is not an overstatement to say that a new era on anticorruption and compliance cooperation and coordination efforts has begun with the announcement of the United States-Mexico-Canada Trade Agreement or USMCA, which is set to replace NAFTA as soon as it is signed in late November of 2018 and subsequently ratified in 2019.… Continue Reading
Brazil’s state oil company and one of its big U.S.-based drilling contractors are locked in bitter litigation following allegations that the contractor won a disputed contract by paying bribes through a middleman.… Continue Reading
Brazil’s state-controlled energy giant Petrobras signed an agreement to settle a securities class action lawsuit filed in federal court in New York that alleged shareholders lost money because of corruption at the company.… Continue Reading
Keppel Offshore & Marine acted against 17 former or current employees for their roles in the Brazil bribery scandal the company resolved in December for $422 million.… Continue Reading
Two former executives of Dutch oil services company SBM Offshore NV pleaded guilty to bribing officials at Brazil’s Petrobras and two state-owned energy firms in Africa.… Continue Reading
Brazil’s scandal-plagued oil giant suspended its compliance chief while he defends himself against charges of hiring Deloitte on a no-bid contract while his daughter was talking to the firm about a job.… Continue Reading
An oil and gas or mining company can avoid all kinds of reputational and legal challenges by swearing off deals with certain corruption warning signs.… Continue Reading