Tuesday, November 09, 2004

Nigeria: Halliburton admits it may have paid bribes

"We understand from the ongoing governmental and other investigations that payments may have been made to Nigerian officials," [Halliburton ...] said in a quarterly filing Friday with the Securities and Exchange Commission.

[...] The allegations center on a contract for a $4 billion Nigerian liquefied natural gas plant awarded in 1995 to TSKJ, a consortium of four partners — M.W. Kellogg Co., a subsidiary of Dresser Industries; Technip SA of France; ENI SpA of Italy; and Japan Gasoline Corp.

[...] The Justice Department, the Securities and Exchange Commission, a French magistrate and Nigerian officials are investigating whether the consortium paid $180 million in bribes to Nigerian officials from 1995 through 2002. The consortium got other contracts involving the Nigerian plant in 1999 and 2002.

In June Halliburton fired two consultants including former KBR chairman A. Jack Stanley, for violating the company's business code of conduct by receiving "improper personal benefits" related to TSKJ's construction of the Nigerian plant. (source)