Oil Bosses Battling War-Crime Allegations Fear Broader Fallout
- Lundin CEO and chairman will fight charges ‘all the way’
- Say case could deter industry investments in other countries
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Fortunes have been made by striking oil in risky places. That business model is about to be challenged by Swedish prosecutors, according to the top two officials at Sweden’s Lundin Petroleum AB who are preparing to battle war-crime charges in court.
Chairman Ian Lundin, CEO Alex Schneiter and their lawyers have until March 15 next year to study an investigation that’s likely to form the basis of a charge of aiding and abetting war crimes in southern Sudan from 1997 to 2003. The allegations could land the executives in jail if they’re convicted and cost the Stockholm-based oil producer hundreds of millions of dollars.