Unaoil Alleges Extortion Following Media Reports of Mass Bribery; Third Company Announces Government Inquiry Related to Relationship with Unaoil

Unaoil Core Labs

On May 16, Unaoil released a statement denying claims made in a media report that linked the company to allegations of bribing foreign government officials to secure contracts within the oil and gas industry. The company stated it has "been the victim of a four-month extortion attempt by criminals," and that it is currently engaged with UK authorities. Separately, Core Labs, an Amsterdam-based oil services company, disclosed in a May 11 S-3 filing that the DOJ has questioned the company in relation to the Unaoil investigation. The company stated that it is cooperating with the DOJ's inquiries. Core Labs is the third company to disclose DOJ inquires as a result of the Huffington Post's investigation surrounding Unaoil and the companies that used its services. Previous Scorecard coverage on the Unaoil investigations can be found here.