popular articles

French Bourbon group executives jailed

Firm prison sentences have been requested against Bourbon's top executives, accused of bribery of foreign public officials in Africa.
Prison Dirigeants Bourbon Corruption

Please share:

The French group Bourbon, a specialist in marine assistance to the oil industry, is at the center of a corruption scandal involving its most senior executives. Following the trial, the prosecutor requested prison sentences for Gaël Bodénès, Laurent Renard and Christian Lefèvre, accused of orchestrating corruption operations in three African countries. These practices were aimed at obtaining significant reductions in tax reassessments in Equatorial Guinea, Cameroon and Nigeria.

Tax breaks through corruption

In Equatorial Guinea, a sum of 400,000 euros was allegedly paid in February 2011 to reduce an initial tax reassessment of eight million euros to 44,849 euros. In November 2011, tax inspectors in Cameroon reportedly received 150,000 euros to save Bourbon Offshore Surf from paying eleven million euros in taxes. In Nigeria, in October 2012, two auditors were allegedly bribed to reduce a tax reassessment from $227 million to $4.1 million, in return for payments totalling $2.7 million.

Sanctions requested by the public prosecutor

Prosecutor Jean-Yves Lourgouilloux called for stiff penalties for the managers involved. Gaël Bodénès and Laurent Renard face two years’ imprisonment, suspended for one year, and a fine of 100,000 euros each. Christian Lefèvre could face three years’ imprisonment, eighteen months suspended, and a fine of 150,000 euros. All three could also be banned from all professional activities for five years.

Role of other executives

The Marseilles Criminal Court also heard charges against other Bourbon executives. Rodolphe Bouchet, current director of Bourbon Marine and Logistics, could be sentenced to eighteen months in prison, one year suspended, and a fine of 70,000 euros. Two other managers face a one-year suspended prison sentence and a 30,000 euro fine each. According to the Public Prosecutor, these measures are aimed at suppressing a “considered and assumed strategy” of corruption to maintain Bourbon’s position in these countries.

Defense and prospects

The defendants will present their defense on Wednesday and Thursday. They will have to answer charges that they knowingly broke the law to protect Bourbon’s financial interests. On the other hand, this trial highlights the ethical and legal challenges that companies face in complex and often corrupt economic environments. The outcome of this trial could have a significant impact on Bourbon’s reputation and future operations.

Reflections on the energy sector

This corruption case highlights the continuing difficulties in the energy sector, where companies have to navigate between commercial competitiveness and ethical integrity. Transparency and regulatory compliance are becoming increasingly crucial for industry players, in the face of growing scrutiny of international business practices. The Bourbon trial could also serve as an example to other companies of the consequences of corruption and the importance of ethics in business.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Turkey plans IPOs for TEİAŞ, EÜAŞ, BOTAŞ, and TPAO. This initiative aims to attract strategic investments and improve the country's key energy infrastructures.
France, the European leader in metallic waste exports, struggles to exploit its recycling potential, particularly for copper, a key element in the energy transition, according to a report by Oliver Wyman.
France, the European leader in metallic waste exports, struggles to exploit its recycling potential, particularly for copper, a key element in the energy transition, according to a report by Oliver Wyman.
Amid international tensions and limited progress in Baku, France stresses the importance of reaffirming the goal of phasing out fossil fuels, highlighting crucial financial and climate stakes for the future.
Amid international tensions and limited progress in Baku, France stresses the importance of reaffirming the goal of phasing out fossil fuels, highlighting crucial financial and climate stakes for the future.
The CRE proposes extending the regulated electricity tariffs (TRVE) to protect households against price volatility and provide essential stability in an evolving market.
The CRE proposes extending the regulated electricity tariffs (TRVE) to protect households against price volatility and provide essential stability in an evolving market.
Donald Trump's selection of Chris Wright as Secretary of Energy could signal a shift in U.S. energy policy, with the resumption of liquefied natural gas (LNG) export permits and reduced investments in renewable energy.
As the UK’s oil and gas decommissioning expenses reach record levels, the industry struggles to meet its obligations, raising concerns about the viability of the energy transition.
As the UK’s oil and gas decommissioning expenses reach record levels, the industry struggles to meet its obligations, raising concerns about the viability of the energy transition.
Cornwall Insight anticipates a rise in the energy price cap to £1,736 in January 2025. This persistence of high prices reflects an unstable market and exacerbates energy poverty in the United Kingdom.
Cornwall Insight anticipates a rise in the energy price cap to £1,736 in January 2025. This persistence of high prices reflects an unstable market and exacerbates energy poverty in the United Kingdom.
Net electricity production in OECD countries increased by 1.1% in August, reaching 981.9 TWh. Solar saw a spectacular 27% growth, while fossil fuels declined in the overall energy mix.
Net electricity production in OECD countries increased by 1.1% in August, reaching 981.9 TWh. Solar saw a spectacular 27% growth, while fossil fuels declined in the overall energy mix.
Electricity Prices in Japan Surge by Nearly 20% Due to a Cold Spell
From the Amazon, Joe Biden affirmed that the transition to clean energy is a major achievement for the United States, addressing an indirect message to Donald Trump, the next occupant of the White House.
From the Amazon, Joe Biden affirmed that the transition to clean energy is a major achievement for the United States, addressing an indirect message to Donald Trump, the next occupant of the White House.
A massive attack with drones and missiles targeted Ukraine's energy infrastructure, causing two deaths and major power outages. Kyiv denounces the intensification of strikes as winter approaches.
A massive attack with drones and missiles targeted Ukraine's energy infrastructure, causing two deaths and major power outages. Kyiv denounces the intensification of strikes as winter approaches.
Chris Wright, a climate skeptic and CEO specializing in hydraulic fracturing, is named Secretary of Energy. He joins Doug Burgum on the National Energy Council to drive the United States' energy dominance strategy.
Chris Wright, a climate skeptic and CEO specializing in hydraulic fracturing, is named Secretary of Energy. He joins Doug Burgum on the National Energy Council to drive the United States' energy dominance strategy.
During COP29 in Baku, Al Gore criticized the organization of climate conferences in petro-states and called for a reform of the selection process for host countries and participants, accusing these nations of conflicts of interest.
To meet its climate targets, French industry will need to double its electricity consumption by 2050, reaching 207 TWh. This energy transition, essential for decarbonization, poses significant technological and economic challenges.
To meet its climate targets, French industry will need to double its electricity consumption by 2050, reaching 207 TWh. This energy transition, essential for decarbonization, poses significant technological and economic challenges.
The 2025 budget, debated in Parliament, foresees a 2 billion euro increase for Energy Transition. Agnès Pannier-Runacher applauds additional amendments for industrial decarbonization and other key measures.
The 2025 budget, debated in Parliament, foresees a 2 billion euro increase for Energy Transition. Agnès Pannier-Runacher applauds additional amendments for industrial decarbonization and other key measures.
In 2024, France reaches an unprecedented level of electricity exports in 22 years, supported by increased nuclear and hydropower production and moderated domestic demand. A strategic success in the European energy market.
In 2024, France reaches an unprecedented level of electricity exports in 22 years, supported by increased nuclear and hydropower production and moderated domestic demand. A strategic success in the European energy market.
The Chinese vice premier announced revised commitments aimed at achieving carbon neutrality before 2060, while pledging increased financial contributions to support developing countries in addressing climate challenges.
At COP29, Brazilian Environment Minister Marina Silva responded to the Azerbaijani president's remarks, advocating for the measured use of natural resources, especially oil, while affirming Brazil’s climate commitments.
At COP29, Brazilian Environment Minister Marina Silva responded to the Azerbaijani president's remarks, advocating for the measured use of natural resources, especially oil, while affirming Brazil’s climate commitments.
Low Risk for France’s Electricity Supply This Winter, Says RTE
Low Risk for France’s Electricity Supply This Winter, Says RTE
At COP29 in Baku, the United Kingdom unveiled an ambitious plan to cut greenhouse gas emissions by 81% by 2035, asserting its leading role in global climate diplomacy.
At COP29 in Baku, the United Kingdom unveiled an ambitious plan to cut greenhouse gas emissions by 81% by 2035, asserting its leading role in global climate diplomacy.
Thai authorities have dismantled nine illegal Bitcoin mining farms accused of stealing over €270,000 worth of electricity. Two suspects have been arrested for large-scale energy fraud.
On the eve of a possible Trump presidency, the United States seeks to reassure its partners on its climate commitment at COP29, amidst North-South tensions and a debate on financial aid for developing countries.
On the eve of a possible Trump presidency, the United States seeks to reassure its partners on its climate commitment at COP29, amidst North-South tensions and a debate on financial aid for developing countries.
Two environmental NGOs are challenging in Scottish court the authorization to drill in the Rosebank and Jackdaw oil and gas fields in the North Sea, denouncing their impact on the UK's climate objectives.
Two environmental NGOs are challenging in Scottish court the authorization to drill in the Rosebank and Jackdaw oil and gas fields in the North Sea, denouncing their impact on the UK's climate objectives.
The German energy sector urges the government to pass key reforms before the planned dissolution of parliament in January, fearing prolonged gridlock following the coalition's collapse.
The German energy sector urges the government to pass key reforms before the planned dissolution of parliament in January, fearing prolonged gridlock following the coalition's collapse.

Advertising