US probes Sinopec over Nigeria payments
Authorities investigating claims that oil producer paid US$100 million in bribes
Investigators from the US Securities and Exchange Commission and Justice Department are investigating allegations that China Petroleum & Chemical Corp paid Nigerian officials around US$100 million to resolve a business dispute.
Bloomberg reports, citing people familiar with the matter, that the alleged payments were intended to resolve a US$4 billion dispute between a Sinopec subsidiary in Geneva and the Nigerian government.
The investigation is in early stages and no action is imminent, according to the sources.