Italian oil giant Eni S.p.A agreed Friday to settle FCPA offenses related to its subsidiary’s use of a “wholly unequipped” intermediary to win government oil contracts in Algeria.… Continue Reading
Posts Tagged: Sonatrach
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem.
The International Consortium of Investigative Journalists said Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the Caribbean. … Continue Reading
An Algeria criminal court sentenced six people to jail and sanctioned two companies for corruption connected to contracts with state-owned energy firm Sonatrach.
The defendants were charged with corruption offenses ranging from embezzling public funds and money laundering to inflating the price of contracts and accepting bribes.… Continue Reading
A judge in Milan ordered Italian oil and gas services firm Saipem to go on trial for alleged bribery in Algeria.
Prosecutors said the company bribed Algeria officials to win work from state-owned energy firm Sonatrach.… Continue Reading
A corruption trial involving former executives at Algeria’s state-owned oil company Sonatrach was adjourned Sunday shortly after it began when witnesses failed to appear.
The trial was postponed until next month at the request of defense attorneys after several witnesses were no shows.… Continue Reading
Italian oil and gas drilling contractor Saipem SpA confirmed that it is under investigation for corruption by Italian authorities for alleged payments in Algeria.
Saipem’s board said Wednesday the payments allegedly relate to conduct that occurred before 2009.… Continue Reading