‘Improper’ accounting on Shell FPSO project sees Fluor pay $14.5 million penalty

SEC probe found that US contractor ‘materially’ overstated net earnings

Problem project: The cylindrical Penguins FPSO was built by COOEC in China for Shell. — Problem project: The cylindrical Penguins FPSO was built by COOEC in China for Shell.Photo: COOEC

Iain Esau

London

Published 7 September 2023, 10:48Updated 13 September 2023, 14:15

Fluor McDermott International US Securities and Exchange Commission David Dickson Americas