Middle East Economic Survey

VOL. XLVII

No 26

28-June-2004

IRAN

Statoil Cleared Of Bribery In Iran Contract By Independent Report

Statoils board of directors has announced that an independent report it had commissioned from attorney Erik Keiserud found no evidence of bribery on the part of the Norwegian company in a contract with Iranian-owned consultant Horton Investment. Reports claiming that a 10-year, $15.2mn contract awarded by Horton was a vehicle for the payment of bribes to Mehdi Hashemi...