ABN AMRO is pulling out of its trade and commodity financing, while cutting its natural resources and transportation and logistics work to European clients only.
Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company misled investors for years.
The Oil and Gas Authority (OGA) has revealed it was hit by fraudsters last year resulting in the loss of £25,000 in funds.
A conman has been jailed for an £88 million fraud after the company he scammed brought a private prosecution against him.
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.
Interpol has issued red notices, the closest to an international arrest warrant, for three Chinese executives suspected of fraud, according to Indonesian police.
A conman posing as a millionaire London trader who defrauded a Dutch shipping company of 100 million euros ($113 million) was sentenced to 14 years in prison by a UK court.
Oil and gas supply chain firms are being urged to be vigilant after evidence of a growing number of fraudsters trying to exploit online payment processing systems. KPMG said it had seen a rise in the number of businesses being targeted by criminals seeking to substitute their own bank details for those of genuine companies. The oil and gas industry, with its extensive and complex supply chain, is deemed to be particularly at risk as a variety of legal and illegal means are used to identify suppliers and their customers.