Could oil industry woes be about to get even worse? A statement yesterday confirmed that authorities in Monaco raided the headquarters of oil firm, Hyundai, as well as the homes of some of its bosses, as part of a UK-led investigation into corruption which will implicate companies worldwide. The allegations published in the Huffington Post and Australia's Fairfax Media claimed the business "systematically corrupted the global oil industry" by delivering millions in bribes on behalf of well-known multinationals to secure contracts. Hyundai has denied the allegations. So far Samsung, Unaoil and Rolls Royce are among the companies that have been implicated in the scandal.
Could oil industry woes be about to get even worse? A statement yesterday confirmed that authorities in Monaco raided the headquarters of oil firm, Unaoil, as well as the homes of some of its bosses, as part of a UK-led investigation into corruption which will implicate companies worldwide. The allegations published in the Huffington Post and Australia's Fairfax Media claimed the business "systematically corrupted the global oil industry" by delivering millions in bribes on behalf of well-known multinationals to secure contracts. Unaoil has denied the allegations. So far Samsung, Hyundai and Rolls Royce are among the companies that have been implicated in the scandal.