Petronas says it has zero-tolerance policy on bribery

  • Corporate News
  • Wednesday, 06 Apr 2016

A Petronas fuel station is seen with the Petronas Twin Towers in the background in Kuala Lumpur, Malaysia. Picture taken February 10, 2016. REUTERS/Olivia Harris

KUALA LUMPUR: Petroliam Nasional Bhd, responding to press reports of alleged improprieties in its procedure of awarding contracts for its operations in Iraq, said it has a zero-tolerance policy on bribery and corruption.

The national oil company said in a short statement on Wednesday that it took the allegations very seriously.

“The company has a zero-tolerance policy against all forms of bribery and corruption and expressly prohibits improper solicitation, bribery and other corrupt activity by employees, directors and third parties performing work or services for or on behalf of companies in the Petronas group,” it said.

The other Malaysian company that was mentioned in the reports on Unaoil’s alleged corrupt practices was Ranhill Holdings, which on Tuesday denied outright it or any of its units had entered into any form of transaction with the Monaco-based energy company.
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