Oil traders spread corruption around world, lubricating deals with bribes
Oil traders Taleveras Group, Vitol Group, Glencore and Trafigura have been exposed in more corruption, seemingly paying bribes in every deal.
Oil traders Taleveras Group, Vitol Group, Glencore and Trafigura have been exposed in more corruption, seemingly paying bribes in every deal.
South Africa plans to engage with traders who acquired strategic oil reserves two years ago, even as it prepares legal action to try to cancel the deal.
Those who engineered the sale of SA’s Strategic Fuel Fund on the conditions reported, did it solely to enrich themselves. They stole at least R1.5bn, perhaps as much as R2.2bn, from South African taxpayers.