When Anthony Stimler left Glencore Plc in August 2019, he had two big secrets: For a dozen years, he’d paid millions in bribes to African officials and intermediaries. And he was now helping a US Justice Department investigation into the company and numerous former colleagues.
A former Glencore employee has reached a plea deal with the US Department of Justice (DoJ), accepting involvement in the payment of bribes in Nigeria.
Exxon workers in Chad have gone on strike, amid concerns about employment following the proposed sale of local assets to UK-listed Savannah Energy.
The US has charged two former Chadian diplomats with international bribery and money laundering.
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.
Chad has no plans to sell a stake in its export pipeline to Cameroon, Société des Hydrocarbures du Tchad (SHT) has said in a statement.
Glencore has taken an impairment of $6.39 billion for 2020, including $1.15bn in African oil operations.
Glencore’s wells in Chad remain offline although the Alen field, in Equatorial Guinea, is expected to start up on schedule in the first quarter.
A South African committee will visit the Engen refinery this week, during a visit to KwaZulu-Natal.
The UK’s National Contact Point (NCP) has accepted a complaint against Glencore UK for an oil spill in Chad.
Glencore has completed its purchase of Ørsted’s LNG business, just under a year after announcing the deal.
Chad asked Glencore to suspend payments on its oil-for-cash loan this year, a move that could prove a precedent for private creditors worried about being dragged into a global debt-relief push for poor countries.
Eskom has launched an attempt to recover cash lost to alleged corruption, which took place in 2015-16.
Glencore produced more oil in the first half of the year, despite shutting down its Chadian assets.
Entrepreneur Martin Gilbert has been appointed chairman of the Oil and Gas Technology Centre (OGTC) at a “pivotal time” for the energy industry.
Glencore’s core business of marketing held up well in 2019 but the trader took a $2.8 billion impairment charge, driven in part by the loss of its oil exploration licences in Chad.
Australia’s FAR has signed a deal to allocate its share of crude from Senegal’s Sangomar field to Glencore Energy.
Glencore’s oil production has risen 8% during the first three quarters of the year over the same period in 2018.
Not since the days of fugitive oil merchant Marc Rich has the commodities trading industry faced so much global scrutiny.
Behind Glencore Plc’s decision to limit coal investment is a little-known, but powerful group of investors.
Commodities giant Glencore has said it will cap how much coal it mines amid shareholder pressure for it to help reduce global emissions of greenhouse gases.
Glencore Plc says it’s been subpoenaed by the U.S. Department of Justice to produce documents relating to corruption and money laundering.
Glencore Plc is close to a $1 billion deal to buy Chevron Corp.’s southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., according to three people familiar with the matter.
The UK’s Serious Fraud Office (SFO) is to recover £4.4million pounds lost in a corruption case involving bribes to Chadian diplomats in the US and Canada.
The FTSE 100 drops 37 points (0.5%) during lunch with a dip in oil and mining stocks being blamed for its lowest level since October.