SBM: $240m provision

Issue 284 - 12 Sep 2014 | 1 minute read
Netherlands-based oil services company SBM Offshore in August included a $240m provision in its H1 14 financial statement, in anticipation of a potential settlement for improper sales practices. In April, the company released the findings of an internal investigation into its use of agents which found that SBM paid some $200m in commission to agents during the 2007-11 period, including $18.8m to Equatorial Guinea and $22.7m to Angola. SBM disclosed its findings with the Dutch Public Prosecution Service and the US Department of Justice and is discussing potential settlement options.

Tagged with:

Pin Strategy & risk

Want to read more?

Subscribe to African Energy

View subscription options

This article is available to registered users


Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map


Transmission and interconnections – towards a Continental System Master Plan

Africa Investment Exchange (AIX) power transmission event

6 December 2022, online

This online roundtable will evaluate progress towards a Continental System Master Plan for transmission infrastructure and cross-border interconnections and consider the impact which this plan will have on African electricity supply industries.

The roundtable is part of the monthly AIX membership programme and will be chaired by African Energy's John Hamilton with contributions from guests.

Book your ticket here

The meeting is free for all AIX members and African Energy subscribers.