Iran-Related Oil Consultancy Accused of Corruption

By John Lee.

An oil consultancy company founded by an exiled Iranian has been accused of widespread bribery and corruption in the oil industry, including in Iraq and Libya.

An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil channelled huge bribes to government officials on behalf of its clients to help win billions of dollars worth of government contracts.

Family owned and controlled, Unaoil was founded by the Iranian-born Ata Ahsani, who left Tehran at the time of the Islamic revolution.

In Iran, the company acquired the Iranian business of Scottish engineering company, Weir Group, in 2006. It also formed a joint venture with local oil company PetroAram, and used its network in Iran to assist firms such as ABB, Elliot and Japan’s Yokogawa.

The company said it “strenuously [denies] any wrongdoing and consider[s] the allegations to be baseless and entirely false.

The original story can be read in more detail here and here.

(Source: The Age)

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