Tory donor’s oil firm admits employees paid bribes to get contracts

Petrofac made admission as part of deal to end four-year corruption investigation by Serious Fraud Office

A multinational oil firm, which was led by a major Conservative donor, has admitted that its employees paid bribes to land contracts, as it struck a deal to end a corruption investigation into the company.

The admission was announced by the firm, Petrofac, on Friday to settle a four-year corruption and money laundering investigation by the Serious Fraud Office.