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Exxon accused of bribing Liberian officials in 2013 oil deal

Published 03/29/2018, 10:20 AM
© Reuters.  Exxon accused of bribing Liberian officials in 2013 oil deal
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  • Exxon Mobil (XOM +1.5%) is accused of paying $120M in 2013 to gain access to an oil field in Liberia it knew had been obtained illegally by former politicians "who may have illegally granted it to themselves while holding office," according to a report from Global Witness.
  • The non-profit says it has an internal XOM document in which the company says it is interested in the oil field but has "concern over issues regarding U.S. anti-corruption laws... despite its concerns, Exxon went ahead with the deal, using the Calgary-based company Canadian Overseas Petroleum as a go-between to purchase the block."
  • Global Witness says Canadian Overseas Petroleum denies the allegations.
  • Now read: Exxon Is An Obvious Buy At These Prices


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