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Leighton could be shut out of Iraq
Published 7:06 AM, 15 Feb 2012
Iraq has threatened to kick Leighton Holdings Ltd out of the country, banning the company from its lucrative oil and gas fields amid an Australian Federal Police investigation into the construction group, according to The Australian Financial Review.
Earlier this week, Leighton said it was working with the AFP on an investigation into payments that may have been made by its subsidiary Leighton Offshore in connection to oil exports from Iraq.
The deputy head of the Iraqi Oil Ministry’s petroleum contracts and licensing directorate Sabah Al-Saidi told the AFR that Leighton's current contracts and ability to bid for future deals could be under threat if evidence of any wrongdoing emerges.
“[Iraq has] worked very hard to create a transparent oil and gas industry and these allegations are already proving very damaging to our international reputation,” he said.
“I do not want to pre-judge what this investigation may find but certainly we expect international companies like Leighton to perform to best international standard.”
“Anything less than that does not have a place within our industry here in Iraq.”
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Published 7:06 AM, 15 Feb 2012
Iraq has threatened to kick Leighton Holdings Ltd out of the country, banning the company from its lucrative oil and gas fields amid an Australian Federal Police investigation into the construction group, according to The Australian Financial Review.
Earlier this week, Leighton said it was working with the AFP on an investigation into payments that may have been made by its subsidiary Leighton Offshore in connection to oil exports from Iraq.
The deputy head of the Iraqi Oil Ministry’s petroleum contracts and licensing directorate Sabah Al-Saidi told the AFR that Leighton's current contracts and ability to bid for future deals could be under threat if evidence of any wrongdoing emerges.
“[Iraq has] worked very hard to create a transparent oil and gas industry and these allegations are already proving very damaging to our international reputation,” he said.
“I do not want to pre-judge what this investigation may find but certainly we expect international companies like Leighton to perform to best international standard.”
“Anything less than that does not have a place within our industry here in Iraq.”
[You must be registered and logged in to see this link.]
