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Statoil's top leaders ignored warnings

Sist oppdatert:
The company’s CEO and chairman were asked to leave Statoil because they allegedly held back information regarding the fact that they several times had been warned against the Iran contract.

Documents which indicate that the internal auditor’s department several times warned both CEO Olav Fjell and Chairman Terje Løddesøl against the controversial Iran contract have allegedly surfaced since the board meeting last Monday, according to the daily Aftenposten.

“The documents illustrate to what degree information which was supposed to be looked into was checked. It was very beneficial for both Løddesøl and Fjell that this information was not revealed when the board discussed the case,” said a central source to Aftenposten.

Among the information which has been revealed after the first board meeting is the fact that Statoil can be convicted for corruption in an American court of law because the company is listed on the stock exchange in the US. This information was not known Monday when the board members stated that Fjell still had their confidence.

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