Petrofac has awarded eligible employees a 5% pay increase, reversing pandemic related cuts initiated two years ago, as the company now looks to “recovery and growth” in 2022.
Serious Fraud Office (SFO)
The Court of Appeal has quashed another conviction related to alleged wrongdoing by Unaoil, setting Paul Bond free today in another rebuff to the Serious Fraud Office (SFO).
Petrofac is back in Adnoc’s good books, the contractor has said, allowing it to participate once more in tenders.
The UK’s chief legal adviser pledged a “forensic and robust” review of the Serious Fraud Office’s botched handling of a bribery case as it weighs making changes at the country’s top fraud prosecutor.
A London ruling that heavily criticised the behavior of the country’s top fraud cops capped a tough year for the Serious Fraud Office (SFO) that saw prosecutions crumble and a conviction quashed.
The Serious Fraud Office (SFO) saw one of its Unaoil convictions thrown out earlier this month and appeals for a second are moving ahead.
A former Petrofac executive has been ordered to pay £140,000 over bribery offences in the Middle East.
Former Petrofac boss Ayman Asfari has increased his holdings in the company, as part of a £200m share offer to pay debt and bribery fines.
A former senior executive from Unaoil has been ordered to repay tens of thousands of pounds worth of criminal gains.
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.
An investigation into allegations of bribery at Petrofac, which wrapped up yesterday, “will unlock the lucrative” Saudi Arabia and United Arab Emirates (UAE) markets.
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.
Updated: Petrofac charged with seven separate offences of failing to prevent bribery, intends to plead guilty
Energy services giant Petrofac has been charged with seven separate offences of failing to prevent bribery between 2011 and 2017.
Updated: Shares in Wood dip after forecasted drop in revenue, firm expects bribery cases to conclude in June
Shares in energy services giant Wood have dipped after the company projected a revenue drop in the first half of the year.
A former Unaoil executive has been ordered to pay almost half a million pounds in confiscation or face more time behind bars.
The US has charged two former Chadian diplomats with international bribery and money laundering.
Former Petrofac CEO Ayman Asfari took a double-digit percentage pay cut in 2020, a year blighted by Covid, loss of work and an ongoing SFO investigation.
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.
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.
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 man has been found guilty of conspiracy to give corrupt payments in a Unaoil bribery case that has rumbled on for more than four years.
The UK’s Serious Fraud Office (SFO) has released road fuel supplier Greenergy from its investigation with Dutch authorities into biodiesel trading.