5th April 2017
Russian oil major Rosneft hopes to benefit from European court rulings that have allowed some Iranian banks to escape from European Union sanctions. Russia’s largest oil firm has been subject to sanctions since 2014, following Russia’s annexation of Ukraine’s Crimea region. Chief Executive Igor Sechin, a close ally of Russian… Read More
30th March 2017
A court in London Wednesday dismissed a lawsuit by Unaoil and its controlling family to quash the fruits of a search police in Monaco conducted last year at the request of the UK Serious Fraud Office. The lawsuit alleged the SFO relied on misstatements and omissions when it asked authorities… Read More
13th March 2017
Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade. The Anglo-Dutch firm did not give a reason… Read More
15th February 2017
Donald Trump moved on Tuesday to expunge rules aimed at forcing oil companies to disclose payments made to foreign governments in order to secure lucrative mining and drilling rights. The rules, called the Cardin-Lugar regulations, were established under the Dodd-Frank Act, the wide-ranging financial regulations brought in after the last… Read More
13th February 2017
As VK Sasikala escalates a bid to become Tamil Nadu's Chief Minister, public unease against her possible ascension is rising - in part fuelled by her business interests and that of her family. Read More
24th January 2017
The fraud squad has today secured a property freezing order worth over £4m. Read More
17th January 2017
The fraud squad's investigation into Soma Oil & Gas set it back almost £60,000. Read More
20th December 2016
The Ministry of Petroleum and Mineral Resources welcomes the UK’s Serious Fraud Office (SFO) decision to close their investigation on Soma Oil & Gas Exploration Limited (SOMA). The allegation was that payments made by Soma to the Somali government were used to bribe officials. The accusation of corruption by the… Read More
6th December 2016
DRC: Israeli billionaire Dan Gertler probed by UK Serious Fraud Office over mining deals. Read More
9th November 2016
The pummelling for risk-on asset classes generally and equities in particular that we saw post-Brexit serve as a timely reminder and potential template for a Trump White House. But what does this mean for the commodity markets and oil in particular? Read More