WORLD BANK DEBARS GERMAN OIL AND GAS CONTRACTOR

On 25 February, the FCPA Blog reported that the World Bank has debarred a German construction and engineering company – Ferrostaal Oil & Gas GmbH – that serves the oil and gas industry for 13 months for a fraudulent practice connected to a project in Myanmar. The alleged corruption was involved in the $100 million World Bank-funded Ayeyarwady Integrated River Basin Management Project.  The company is also debarred by the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank, and the African Development Bank.

https://fcpablog.com/2021/02/24/world-bank-debars-german-oil-and-gas-contractor-for-fraud/

A list of all debarments is at –

https://www.worldbank.org/en/projects-operations/procurement/debarred-firms

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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