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Farid Farid

EXPLAINED: Oil exec handed largest ever fine over contract rigging | Vintage Vibes

Oil Gina CassGottlieb Robert Bromwich ACCC the Federal Court

An oil and gas services company and its chairman have been fined for cartel conduct. (Dean Lewins/AAP PHOTOS)

Dinners at a waterfront steakhouse were the undoing of an oil and gas services company and its boss, fined a total of $6 million for cartel conduct.

The Federal Court found that Queensland-based mining equipment firm Qteq and its chairman Simon Ashton attempted to induce suppliers to enter into contracts where they would rig bids on five occasions.

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