VOL. XLVI

No 39

29-September-2003

IRAN

Statoil Chiefs Resign Over Iran Consultancy Contract

Statoil Chief Executive Olav Fjell and Chairman Leif Terje Løddesøl have resigned following press allegations of bribery in a consultancy contract awarded to Iranian firm Horton Investment. The allegations concern a contract signed between Statoil and Horton in June 2002, for the provision of advice on the economic, business and legal systems in Iran. The Norwegian police are investigating the contract for...