A former executive at oil services company Petrofac has pleaded guilty to bribery in connection with payments to secure contracts worth more than $4 billion in Middle Eastern countries.
Briton David Lufkin, 51, ex-global head of sales for Petrofac International Ltd, admitted 11 counts of bribery following payments made by Petrofac of more than $50 million.
He was accused of acting with a number of other Petrofac employees including Marwan Chedid, the group’s former chief operating officer. Announcing its results last year, the company said that Mr Chedid was leaving to “pursue other interests”.
The payments influenced the award of contracts to Petrofac worth more than $730 million in one country and more than $3.5 billion in another, said the UK’s Serious Fraud Office (SFO) which is investigating the case. Lufkin will be sentenced at a later date.
The SFO said that its investigation into Petrofac’s use of agents in jurisdictions including these two countries was continuing.
The agency started its inquiry in 2017 as part of a wider investigation into Monaco-based oil and gas consultancy Unaoil. Petrofac said last year that it expected its senior management to be interviewed as part of the SFO investigation.
News of the guilty pleas triggered a near 30 per cent fall on Thursday in the shares of the London-listed oil and gas company.
Petrofac said that no current board member of Petrofac Ltd is alleged to have been involved, the company said in a statement.
“The SFO has chosen to bring charges against a former employee of a subsidiary company,” the company’s chairman René Médori said in a statement.
“It has deliberately not chosen to charge any group company or any other officer or employee. In the absence of any charge or credible evidence, Petrofac intends as a matter of policy to stand by its employees.”
Petrofac, which has 12,750 employees, operates out of seven operational centres.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
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%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EEric%20Barbier%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EYoussef%20Hajdi%2C%20Nadia%20Benzakour%2C%20Yasser%20Drief%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
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The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Defined benefit and defined contribution schemes explained
Defined Benefit Plan (DB)
A defined benefit plan is where the benefit is defined by a formula, typically length of service to and salary at date of leaving.
Defined Contribution Plan (DC)
A defined contribution plan is where the benefit depends on the amount of money put into the plan for an employee, and how much investment return is earned on those contributions.
