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Petrofac handed £77m fine for bribery offences

Oil services firm paid bribes to help win contracts worth £2.6bn
Petrofac handed £77m fine for bribery offences
  • London court hands Petrofac $104m penalty, including costs
  • Group admits to failing to prevent bribery and corruption in between 2011 and 2017

The Serious Fraud Office (SFO) has said Petrofac (PFC) has admitted to paying tens of millions of pounds in bribes between 2011 and 2017, and will now hand the anti-corruption body £77m in penalties and costs. The exact charges related to the oil services' group's "failure to prevent bribery". The penalty was far less than the $240m (£176m) Petrofac said it expected in a statement to the market on 1 October.

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