Statoil's international director resigns
In the wake of a raid on Statoil's Stavanger offices and formal charges of corruption by Norway's Economic Crime Unit, Økokrim, for illegally influencing foreign officials, Statoil's director for international operations Richard John Hubbard resigned on Friday. The charges involve Statoil's controversial consultancy deal with Abbas Yazdi in Iran.
Statoil CEO Olav Fjell announced Hubbard's exit from the company at a press conference Friday morning.
Statoil's British director for international oil and gas seeking operations is responsible for the firm's business in Iran. After revelations that Statoil had a consultancy contract worth NOK 115 (USD 15.5) million with former Iranian president Rafsanjani's son, Økokrim elected to file charges against the firm or persons in the firm.
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