(Both Ends, Amsterdam, 24 December 2014)
by: Wiert Wiertsema, Both ENDS
The Brazilian oil company Petrobras is currently involved in a corruption scandal that affects all companies it has been working with. The Dutch enterprise SBM Offshore paid bribes to Petrobras, and recently settled this matter with the Dutch Public Prosecution for US$240 million. But SBM Offshore is still under further investigation in Brazil and, for now, cannot do business there. In addition, the US Justice Department has started to fully investigate all Dutch companies that have done business with Petrobras. Companies such as Boskalis, Van Oord, IHC Merwede and Fugro – showpieces of the internationally renowned Dutch water and shipbuilding sectors – are at risk of getting large penalties or being excluded from new procurements abroad.
