Petrofac fined $95m by UK court for bribery offences

UK oil-service provider Petrofac Ltd. must pay a $95 million penalty by a London judge for failing to prevent bribery between 2011 and 2017.

The penalty includes a $64 million fine and a $31 million confiscation order. The levy comes after the company pleaded guilty to seven bribery offences, in a deal with the UK’s Serious Fraud Office. The charges relate to former employees offering or making payments to agents in relation to projects in the Middle East.

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The company admitted last week to failing to prevent $44 million in bribes being paid to secure $3.6 billion worth of contracts.