By John Donovan
Two articles have just been published about bribery that have relevance to Shell and its shareholders.
An article by The Economist under the headline “Graft work” makes the point that “The most briberiddled sectors are oil, gas, mining, construction and transport.”
GONE are the days when multinationals could book bribes paid in far-flung countries as a tax-deductible expense. These days would-be palm-greasers have to contend with ever-tougher enforcement of old laws, such as America’s Foreign Corrupt Practices Act of 1977, and a raft of new ones in countries from Britain to Brazil.
The other article worth reading is also in relation to the U.S. Foreign Corrupt Practices Act. Published by the Legal Newsline, it reports on the filing of a class action lawsuit alleging that an oil company – Cobalt International Energy – has violated United States federal law by engaging in bribery with…
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