US Agencies Probe Weatherford's Foreign Dealings

Law360, New York (June 28, 2010, 4:55 PM EDT) -- The U.S. government is investigating Swiss-based oil field service giant Weatherford International Ltd.'s dealings with foreign nations, including its role in the United Nations' Oil-for-Food program and allegedly improper sales and service arrangements in sanctioned countries such as Cuba, Iran, Sudan and Syria.

The company is fully cooperating with the investigations, undertaken by the U.S. Department of Commerce, the Office of Foreign Assets Control, the Department of Justice and the Securities and Exchange Commission, and is withdrawing from its engagements in sanctioned countries, Weatherford said in...
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