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Statoil penalised over Iranian scandal

Norwegian energy company Statoil could be fined 20 million Norwegian kroner ($2.92 million) in relation to a payment it made to a London investment firm for advice on conducting business in Iran.

The National Authority for Investigation and Prosecution of Economic and Environmental Crime in Norway handed the company a penalty notice to this effect on June 29. It is also seeking to impose a penalty of Nkr 200,000 on Richard Hubbard, the Statoil's former head of international exploration and production.

The company has a month to decide whether to accept the penalty.

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