Mon Mar 17, 2008 11:06am EDT
By Tom Bergin
LONDON, March 17 (Reuters) – The U.S. Department of Justice has contacted Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research) about potential violations of the U.S. Foreign Corrupt Practices Act (FCPA) which may lead to fines, the oil major said on Monday.
The Anglo-Dutch company said the DoJ was investigating its use of Basel-based logistics firm Panalpina (PWTN.S: Quote, Profile, Research), which has said it is helping the DoJ in relation to suspected bribery in Nigeria, Kazakhstan and Saudi Arabia.
“Shell’s U.S. subsidiary, Shell Oil, was contacted by the U.S. Department of Justice regarding Shell’s use of the freight forwarding firm Panalpina, Inc,” Shell said in its annual report published on its Web site on Monday.
Shell said it started an internal investigation and is cooperating with the DoJ and with a probe launched by U.S. markets regulator the Securities and Exchange Commission investigation.
Panalpina has quit its Nigeria operations following the probe and said last week in a statement that it had “certain indications that, in the past, violations of the FCPA may have occurred.”
The company has agreed with the DoJ on investigation plans in a number of countries.
http://www.reuters.com/article/rbssEnergyNews/idUSL1775263320080317
(Story tip to Reuters by John Donovan of www.royaldutchshellplc.com)
*This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan - more information here. There is also a Wikipedia segment, the Shell DPA Files, "Shell and the Spies", the Shell Leaks files, as well as books written and published by John Donovan - Kindle eBooks. Timeline of the Donovan Shell Feud. Toxic History of Royal Dutch Shell Group. Shell and the Donovans: The Full Media Record — 550+ Articles, 110 Books, 40 Years. *All created and supported by internet wizz, Nick Gill.
