Iranian Ship Linked to Houthi Attacks Heads Home Amid Tensions
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
The company, which has already been fined a record $240 million by Dutch authorities over improper payments to officials in Equatorial Guinea, Angola and Brazil, said discussions with Brazilian authorities over a settlement were continuing.
In its first-quarter trading update, the company said it had earned revenue of $601 million so far this year and stuck to its forecast of $2.2 billion in revenue for 2015. It said net debt would come in at below $3.5 billion.
“A continuously challenging macro environment has impacted the turnkey segment as clients postpone investment decisions,” Chief Executive Bruno Chabas said in a statement. “The Lease and Operate segment continues to perform, as it is unaffected by oil price fluctuations.”
SBM Offshore is one of more than 20 companies believed by Brazilian police and prosecutors to have paid bribes in exchange for contracts with state-run Petrobras, Brazil’s largest oil company.
Dutch prosecutors said in November that SBM Offshore’s Brazilian sales agents, who received at least 139.1 million euros in commissions, made payments to Brazilian government officials via offshore entities.
SBM Offshore is the world’s largest leaser of floating oil production ships known as FPSOs, while Petrobras uses more such vessels than any other company. (Reporting By Thomas Escritt, editing by David Evans)
© 2015 Thomson Reuters. All rights reserved.
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