Companies from the oil and gas industry have disclosed 28 open and ongoing FCPA-related investigations.
The UK Serious Fraud Office charged two former executives of Dutch oil services firm SBM Offshore NV for allegedly funneling bribes to officials in Iraq through intermediary Unaoil.
Paul Bond and Stephen Whiteley were both charged with conspiracy to make corrupt payments to secure contracts in Iraq for Unaoil’s client SBM Offshore.… Continue Reading
Dutch oil services company SBM Offshore NV agreed Wednesday to pay a criminal penalty of $238 million to resolve FCPA offenses in Brazil, Angola, Equatorial Guinea, Kazakhstan, and Iraq.
An Amsterdam-based oil services company said in a U.S. securities filing Wednesday that the DOJ has closed its investigation about the company’s “interactions with Unaoil.”
The Justice Department “has closed its inquiry without taking any action,” Core Laboratories N.V.… Continue Reading
The UK Serious Fraud Office has now joined the DOJ and SEC in an investigation of possible overseas bribery by London-based Amec Foster Wheeler plc.
The company said in an SEC filing Tuesday the investigation “focuses on the past use of third parties and possible bribery and corruption and related offenses,” according to FCPA Tracker.… Continue Reading
British oilfield services company John Wood Group plc launched an internal investigation into its dealings with Unaoil, the company said in a prospectus.
Oilfield services firm Petrofac said Thursday it suspended its chief operating officer Marwan Chedid during a corruption investigation.
London-based Petrofac is under investigation for suspected bribery, corruption and money laundering, the UK Serious Fraud Office said Friday.
The UK Serious Fraud Office confirmed that it has opened a new investigation into KBR, Inc.’s United Kingdom subsidiaries for suspected bribery and corruption.
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. This month’s developments in an evolving scandal might have Royal Dutch Shell wishing it had done so.… Continue Reading