Petrofac (LON: PFC) has announced a £200million fundraise through share placing in order to help pay a Serious Fraud Office (SFO) fine for bribery offences.
The Serious Fraud Office (SFO) has said Petrofac should face a $209million (£154m) fine for pleading guilty to seven bribery offenses, about double what the company said it can afford at a London court hearing.
BP fired an ex-oil trader because he voiced concerns about bribes being paid in Nigeria to secure local contracts, according to a sprawling London employment suit that sheds light on the energy giant’s lucrative trading floor.
Engineering and consultancy firm Wood said tonight it had agreed to settle legacy bribery and corruption investigations in Brazil, the UK and US for £127.5 million.
In late 2019 Gunvor Group, one of the world’s biggest oil traders, said it would make a clean break from the past by settling a long-running bribery case in Africa.
Petrofac has been cut off from three of its “largest and most promising” oil markets globally after being suspended from Adnoc tenders, according to new analysis.
Wood, the Aberdeen-headquartered energy services giant, has earmarked $196million in order to settle bribery cases with authorities in the US, Brazil and the UK.
Petrofac has been suspended from tendering for Adnoc contracts as a Serious Fraud Office (SFO) bribery investigation rolls on.
A former senior boss at Petrofac has pleaded guilty to further charges of bribery in a Serious Fraud Office (SFO) investigation related to contract wins worth billions of dollars.
Trafigura Group Ltd. denied bribery allegations leveled by Brazilian prosecutors in a civil lawsuit claiming the commodities trader and its staff participated in a kickback scheme to win business with state oil producer Petroleo Brasileiro SA.
The Serious Fraud Office (SFO) has secured £1.2million from the owner of a luxury London apartment bought after bribing Brazilian state oil firm Petrobras.
A former Unaoil executive has been jailed for more than three years for paying bribes to win $1.7bn of contracts in post-occupation Iraq.
The head of the Serious Fraud Office (SFO) has said a case that saw the conviction of an Aberdeen oil man for bribery “straddled the lockdown period like no other”.
An Aberdeen oil chief convicted of paying £400,000 in bribes to win contacts in war-torn Iraq has been sentenced to three years in prison.
U.K. prosecutors have frozen a £5 million apartment in west London owned by a Brazilian businessman implicated in the Petrobras bribery scandal.
A UK judge suspended the country’s biggest ongoing corruption trial in London for two weeks, the first such case to have been put on hold because of the coronavirus as an attorneys association asked for all jury trials to be halted.
A Croatian court convicted the head of Hungary’s biggest energy group on bribery charges relating to the acquisition of the Balkan nation’s oil company, complicating what’s been one of eastern Europe’s most intractable cross-border corporate conflicts of the past decade.
The Office of the Attorney General (OAG) of Switzerland has ordered Gunvor to pay almost 94 million Swiss francs ($94.7mn) for failing to prevent corruption in Congo Brazzaville and Cote d’Ivoire.
Petrofac is facing the prospect of a £400 million payout to investors amid legal action linked to an alleged bribery scandal at the oil services firm.
Two former Rolls-Royce Holdings Plc executives pleaded guilty to U.S. charges that they orchestrated international bribes over more than a decade, continuing an Obama-era effort to hold individuals responsible for corporate misconduct.
Saudi Arabian Oil and gas investment company, Al Rushaid Group, have brought a successful court action to claim damages for loss or revenue and reputational damage as a consequence of a small business owners dishonest and fraudulent actions.
Petrofac said an internal investigation into its board related to historical provision of services to company by Unaoil has found no wrongdoing of any director.
A Scottish logistics group will pay more than £2million in fines after an illegal bribery operations was discovered in its own organisation.
SBM Offshore’s chief executive has avoided an admission of guilt after settling with Brazilian prosecutors over “personal favouritism” charges.
Croatia's Constitutional Court has annulled two corruption convictions against former prime minister Ivo Sanader and ordered a retrial. Sanader, prime minister from 2004 to 2009, had been convicted of taking a bribe from the Hungarian oil group MOL in 2008 to allow it to take a dominant stake in Croatia's biggest utility, the oil firm INA, and also of taking a bribe from Austria's Hypo Bank in 1994 and 1995, when he was deputy foreign minister.