The Biggest Corporate Bribery Trial in History

Former executives from oil Royal Dutch Shell and Eni are to be tried on charges of aggravated international  corruption for their role in a $1.1 billion deal for Nigerian oil block OPL 245 in 2011. Nigerian people lost out on over $1 billion because of this. Is this the only case of bribery connected to oil industry? 

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The oil and gas industry is littered with corruption. I guess that's what you get when you marry a significant natural resource with emerging markets, such as is the case with oil. Throw in the fact that the oil industry has cause to deal with government officials. Anything that relies so heavily on bureaucracy, particularly in countries with low transparency, and you have a recipe for disaster... think state-run oil.

For bribery cases, Unaoil comes to mind, although I'm sure there are many many more cases.

 

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There is another one also called "World's biggest bribe scandal" which involved small family business company Unaoil from Monaco. This company managed to systematically corrupt the global oil industry, carving up portions of the Middle East oil industry for the benefit of Western companies, such as Samsung, Rolls-Royce and Halliburton, between 2002-2012. 

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Let's see how many we can name here. It can be our BIG BAD CORRUPTION DATABASE

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 Dirty industry in many ways

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How about this one:

Aleksei Ulyukayev, former economy minister in Russia, convicted of soliciting a $2 million bribe for looking the other way in a deal for state oil company to acquire Bashneft. Ulyukayev said he thought the gift basket he received from Sechin contained wine, but it actually had bricks of cash.

Easy mistake....

 

 

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Or this:

Oil services company Halliburton was making illegal payments to an Angola's state-oil company Sonangol as it worked to secure oil-field services contracts from 2008. Halliburton obtained $14 million in profit from these deals. This company didn't admit or deny these finding but it agreed to pay more than $29.2 million to settle federal charges.

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