Less than one year after it has received a contract to develop one of the world's largest offshore oil fields, the future of Statoil in Iran is under threat. Statoil has been at the center of a corruption investigation that led to the resignation of three top managers, including the CEO. The matter was argued Bribes Horton Investments, on the will of the company Statoil, to ensure the development of lucrative contracts oil. According to the Iranian government, Statoil Horton used to spend $ 15 million in secret bribes to unnamed officials. Regional Manager, Statoil, who had considerable experience in the region and did not know about the secret deals, remains a challenge trying to save and restore the operation of social capital, he established between Statoil and its Iranian counterparts. "Hide
by Henry W. Lane, David T. Wesley Source: Richard Ivey School of Business Foundation 4 pages. Publication Date: November 18, 2005. Prod. #: 905C36-PDF-ENG
Related Case Solutions & Analyses:
Enerplus Corporation: Assessing the Board Invitation
Selecting a Pharmaceutical Company from Northeast Asia for Investment
Rothmans Inc. – The Curious Case of the Interest Rate Swap
Mountain Equipment Co-op: The Private Label Strategy
Canada Wide Savings Loan and Trust Company
Pleasant Popcorn Processing Co.:The Popcorn Predicament
The Espresso Lane to Global Markets
Mafiaboy
Blue Orb: Company in Transition
Canadian Closures (A)
