Core Laboratories, an Amsterdam-based oil services company, said in a securities filing today that the U.S. Department of Justice has closed its investigation possible violations of the Foreign Corrupt Practices Act related to its interactions with Unaoil.
In its Form 10-Q filed on Oct. 25, Core Laboratories said the Department of Justice “has closed its inquiry without taking any action against the company.” Specifically, the Justice Department stated in a letter to the company, dated Oct. 4, that “based upon the information known to the Department at this time, it has closed its inquiry into the company in connection with this matter. The Department appreciates the company’s cooperation during the investigation.”
Core Laboratories first disclosed the Justice Department investigation in a quarterly report last year. The company did not, however, mention in its latest quarterly report anything about an SEC investigation, which it first disclosed in February 2017.
A special report published in April 2016 by Fairfax Media and the Huffington Post exposed an extensive global web of bribery and corruption, in which high-ranking bureaucrats and politicians awarded billions of dollars in government contracts in exchange for bribes paid on behalf of some of the world’s largest companies. The heart of the investigative report, “The Bribe Factory,” focused on Unaoil, a provider of industrial solutions to the energy sector in the Middle East, Central Asia, and Africa. Core Laboratories was just one of numerous companies named in that report.