Statoil penalised over Iranian scandal

The National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway handed the company a penalty notice to this effect on June 29. It is also seeking to impose a penalty of Nkr 200,000 on Richard Hubbard, the Statoil's former head of international exploration and production.

The company has a month to decide whether to accept the penalty.

Last September, Norwegian police launched an inquiry into a deal in which Statoil paid London-based Horton Investments $

To continue reading...