Worley, the ASX-listed global engineering group, has denied allegations of corruption made by Ecuador in the United States, but brokers warn the claims could hurt investor confidence in the $9 billion listed company.

The Ecuadorian government alleged in a claim filed on December 30 in the southern district of Texas that Worley International Services, a subsidiary of the group, had “engaged in corruption and bad faith” in securing contracts with its national oil corporation Petroecuador and Refinería del Pacífico.