Region: Africa & Middle East

Tullow Oil declares force majeure following government investigations

Tullow Guinea, a subsidiary of UK-based Tullow Oil, says the discovery that its business partner Hyperdynamics is being investigated by the US Department of Justice (DoJ) and US Securities and Exchange Commission (SEC) means it can no longer fulfil its contractual obligations.

13 March 2014

Corrupt officials to be defamed in Saudi Arabia

Saudi Arabia’s latest effort in combating corruption is to promote defamation as a potential punishment. According to local daily Arab News, Saudi Arabia’s formal advisory body, the Shoura Council, is urging the National Anti-Corruption Commission to adapt its regulations to allow corrupt officials to be publicly named and shamed by publishing their photos and personal details.

13 March 2014

More convictions in Oman oil corruption clampdown

The oil industry corruption trials in Oman saw further convictions last week as a former executive of an engineering firm was handed a 15-year sentence for paying bribes to secure contracts with state-owned oil company Petroleum Development Oman.

10 March 2014

Nigeria to investigate US$20 billion worth of missing oil money

The chairman of the Economic and Financial Crimes Commission (EFCC) in Nigeria told the country’s government last Thursday that it will launch a criminal investigation into US$20 billion in missing oil revenue, according to a local news report.

03 March 2014

Oman jails state oil company CEO

The CEO of government-owned Oman Oil Company (OOC) has been sentenced to 23 years in jail for bribery, money laundering and abuse of office. A Muscat court determined that a Caribbean-registered company owned by OOC chief executive Ahmad al-Wahaibi received US$8 million from his counterpart at South Korean company LGI, Myung Jao Yoo, after LGI won a bid for a billion rial petrochemical project.

28 February 2014

Additional charge brought in FCPA obstruction case

The man accused of trying to bribe a witness in an FCPA investigation of a mining company has been hit with a further charge of conspiracy. According to court documents, Frederic Cilins, from France, has been accused of conspiring with an unnamed person to obstruct an investigation of an unnamed mining company, which has been accused of paying bribes to win contracts in Guinea.

25 February 2014

Austrian bank executives accused of paying bribes to Syrian officials

Prosecutors told an Austrian court that former employees at OeBS, a banknote printing company, paid bribes to officials at both Syrian and Azerbaijan banks in exchange for winning contracts to print money for them.

21 February 2014

Weatherford agrees US$253 million settlement with US authorities

Gibson Dunn & Crutcher partner F Joseph Warin and of counsel Michael J Edney in Washington, DC advised oil and gas services company Weatherford International on its US$253 million settlement with US authorities.

03 December 2013

Deutsche Bank faces UAE disclosure lawsuit

Dubai’s Financial Services Authority (DFSA) is seeking an injunction forcing Deutsche Bank to disclose details of its wealth management clients.

18 November 2013

DoJ launches FCPA investigation of oil company in Guinea

The US Department of Justice (DoJ) has opened an investigation of oil and gas company Hyperdynamics in connection with possible FCPA and anti-money laundering violations.

18 November 2013

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