corruption

  • Nigeria Seized $9.8m from NNPC Ex-Manager

    Nigeria Seized $9.8m from NNPC Ex-Manager

    Friday, 10th February 2017
    Nigeria's anti-corruption body seized $9.8m in cash from the former Head of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, as part of the country's continuous struggle against corruption.
  • New Petrobras’ CEO to Recover Company’s Credibility

    New Petrobras’ CEO to Recover Company’s Credibility

    Sunday, 5th June 2016
    The new president of Petrobras, Pedro Parente, said during his swearing in ceremony that to improve the company’s performance, the oil giant needs to restore its credibility and recover its economic, financial and social responsibilities.
  • Illicit Waste Disposal Probes Unlikely to Harm Eni’s Earnings

    Illicit Waste Disposal Probes Unlikely to Harm Eni’s Earnings

    Tuesday, 5th April 2016
    The shutdown of Europe’s largest onshore oil field in Italy over alleged illicit waste disposal at a nearby treatment plant will probably only have a “negligible” effect on Eni earnings.
  • Shell Under Investigation With Eni Over Nigerian Offshore Oil Deal

    Shell Under Investigation With Eni Over Nigerian Offshore Oil Deal

    Thursday, 31st March 2016
    Italian prosecutors are investigating Royal Dutch Shell’s involvement in a Nigerian oil deal, drawing the oil company into a corruption probe over the acquisition of an offshore field in the African country in 2011 together with Italy's Eni.
  • Nigeria’s State Oil Company Withheld $16b in 2014

    Nigeria’s State Oil Company Withheld $16b in 2014

    Tuesday, 15th March 2016
    Nigeria's Auditor-General has denounced that Nigerian National Petroleum Corporation (NNPC) withheld $16 billion in revenues from the federal government in 2014.
  • Peruvian President Investigated in Brazilian Petrobras Probe

    Peruvian President Investigated in Brazilian Petrobras Probe

    Sunday, 28th February 2016
    Brazilian police, investigating a massive kickback scheme at state-run oil company Petrobras, are now looking closely at Peruvian President Ollanta Humala, suspected of having received $3m in bribes.
  • Algerian Court Issues Jail Sentences in Sonatrach Case

    Algerian Court Issues Jail Sentences in Sonatrach Case

    Tuesday, 2nd February 2016
    A verdict was reached in the high-profile corruption trial of former executives at Algeria's state energy giant, Sonatrach. Six officials were handed between five to six years of jail sentences, including a former vice president and an ex-state bank chief. Two local subsidiaries and two international companies were fined for having played their role in illegal trading.
  • Nigeria to Boost Profitability in UAE as it Fights Oil Corruption at Home

    Nigeria to Boost Profitability in UAE as it Fights Oil Corruption at Home

    Thursday, 26th November 2015
    Alpha Group of Companies Chairman/CEO Sheikh Mohamed Bayorh and senior executives from leading prominent companies in UAE welcomed the Nigerian Minister of State Petroleum Resources, Honorable Emmanuel Kachikwu this week at the Burj Al Arab.
  • Brazil’s Oil Union Strikes over Asset Sales, Slashed Investments

    Brazil’s Oil Union Strikes over Asset Sales, Slashed Investments

    Monday, 2nd November 2015
    Brazil's oil-workers' union began a strike on November 1, protesting asset sales and cuts in investment on the part of Petroleo Brasileiro SA, the nation's state-owned oil company, which is seeking to reduce its enormous debt load, according to Bloomberg.
  • Stiff Sentences for Nigerian Fuel Smugglers

    Stiff Sentences for Nigerian Fuel Smugglers

    Sunday, 1st November 2015
    Nigeria’s Economic and Financial Crimes Commission (EFCC) has announced that seven men have been jailed for 10 years after being arrested with nearly 1,500 tonnes of contraband petrol, the Business Standard reported.