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.
Serious Fraud Office (SFO)
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.
Two men who scammed millions of pounds from 760 vulnerable victims in a fraudulent solar panel scheme were yesterday ordered to pay confiscation totalling more than £400,00.
Energy services firm Petrofac said it was “well positioned” for the remainder of 2019, but warned of a drop in revenues ahead.
Senior managers at oil services firm Petrofac have been named by the Serious Fraud Office (SFO) in conjunction with a bribery case involving the organisation.
The director of a firm connected to a Kazakhstan-headquartered energy firm is facing charges connected to a corruption investigation in the UK.
The Serious Fraud Office (SFO) has launched an investigation into London Capital and Finance, which funds the primary backer of Independent Oil and Gas (IOG).