VITOL and Glencore are set to receive $380 million in compensation after winning a legal dispute over non-delivery of LNG cargoes against Nigeria’s sole liquefied natural gas (LNG) producer, according to court documents seen by Reuters. The case, which was heard in London’s High Court and Court of Appeal, involved a legal challenge by Taleveras, the … Read more
SWISS federal prosecutors announced on Monday that Glencore’s international unit has been found ‘criminally liable’ and ordered to pay over $150 million in fines and compensation after concluding a probe into bribery related to the Congo mining industry over a decade ago. The Swiss attorney general’s office determined that Glencore International AG failed to … Read more
THE billionaire former head of oil at Glencore Plc, Alex Beard, has been charged with corruption by the UK’s top fraud agency, alongside four other ex-employees from the commodities trader. Beard, 56, who was one of Glencore’s top executives for more than a decade before his departure in 2019, is the highest profile individual to … Read more