Canada’s Niko Resources Fined $9.5 Million for Bribing Bangladeshi Minister

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Saturday, October 1, 2011
Author: 
Peter Bowal and Brittany Lema
Volume: 
27
Issue: 
10
Abstract: 
Founded in 1987, as a publicly-traded junior Canadian natural gas company headquartered in Calgary, Alberta, Niko Resources Ltd. (Niko) enjoyed the reputation of a gutsy natural gas explorer and producer by taking on projects in politically volatile and economically less developed regions of the world. The company found early financial success, growing in market capitalization in the five years 2001 to 2006 of $220 million to $2.5 billion, through its wholly owned subsidiaries in India and today operates in Pakistan, Kurdistan, Indonesia, Trinidad, Madagascar and Brazil, as well as throughout North America...(more)...