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A subsidiary of the FTSE 100 commodities giant pleaded guilty in June to paying multiple bribes to secure access to oil shipments.

Glencore is facing fines in millions of dollars for a series of corruption offences in which it used a private plane to fly money to bribe officials in different African governments. In June, a division of the FTSE 100 commodities behemoth admitted to paying many bribes to get access to oil supplies. Following the filing of a number of charges by the Serious Fraud Office, it was the first time a firm had ever been found guilty of bribery under UK law (SFO).

An embarrassing corruption scandal forced the mining and commodities giant to plead guilty to multiple corruption charges.

Glencore Energy also acknowledged two charges of failing to prevent bribes from being made on behalf of the business in relation to the awarding of crude oil cargoes 11 years ago.

An embarrassing corruption scandal forced the mining and commodities giant to plead guilty to multiple corruption charges.

Glencore Plc said on Tuesday it anticipates paying up to $1.5 billion to settle accusations of bribery and market manipulation, as authorities in the