At this stage, all defendants are innocent until found guilty, the lawyer said. All quotes delayed a minimum of 15 minutes. Then Paterson resigned, cancelling future parliamentary votes. Whatever youre interested in, theres a free openDemocracy newsletter for you. Finally, Sonatrach rarely markets its fuel through intermediaries, and its fuel is sold through intermediaries well-known in the market. It has since been renewed four times. 2022 LOrient-Le Jour All rights reserved. MEXICO CITY (Reuters) - (This April 18 story corrects to make clear Reuters could not determine payments were made under the proposed arrangement, removes reference to Evrofinance Mosnarbank and clarifies that experts see no violation of sanctions). Sonatrach has been involved in at least two major corruption cases in the past decade, both of which involved the payment of bribes to company employees and officials. 11:07 AM | 31 Jan, 2023 . In one transaction, an executive from Rosnefts Geneva trading unit said PDVSA had given its approval for Rosneft to collect payment from trading firm BB Energy for the purchase of 525,000 barrels of fuel oil loaded on Jan. 3, according to an offer letter. In 2015, BB Energy won Ecuadoran contracts for more than three million barrels of naphtha, a petroleum distillate. Which groups shape the stories we see in the press; which voices are silenced, and why? A lawyer for Panamericana, Katiuska Peado Moreno, and a former commercial attach at the Cuban embassy in London, Alejandro Gutirrez Madrigal, are listed as the beneficiaries of shares in Miramar Investment Corporation Ltd. worth $50,000. If youre rich and want a place of power in politics, donate 3 million to the Conservative Party and youre likely to gain a peerage. BB Energy is not known to be involved in fracking but says that it sells oil around the world - and is one of the largest traders in the Mediterranean. A scandal over the import of sub-standard quality fuel into Lebanon has seen some two-dozen people arrested, two fuel tankers seized and the offices of two major fuel traders raided and sealed off amid ongoing investigations. The charges pressed at the end of the investigation consist of a foundation for a trial. All rights reserved. SECURITYIn Tunis, Mawlawi reassures Saudi counterpart on Lebanons continuing fight against drug trafficking, DIPLOMACY Belgium PM tells Iranian leader to free aid worker, PRIVACY Moroccan activists join WhatsApp suit over Pegasus spyware, Support L'Orient Today with a digital subscription starting $1. Yes! Venezuelan state oil company PDVSA has asked at least two of its clients to make payments for Venezuelan oil via Russian state energy giant Rosneft, as it comes under pressure from U.S. sanctions, according to a PDVSA source and documents reviewed by Reuters. Petroecuador contracted BB Energy (Asia) Pte. His register of interests says he currently earns 50,000 in the role, for about 11 days work a year. Pakistan ranks 140th in Transparency International's Corruption Index 2022 . Global Policy Forum, a non-government agency that monitors the work of the United Nations, also included BB Energy in a list of beneficiaries of the so-called oil bribes distributed by Saddam Hussein to recruit international support for weakening U.N. and other economic sanctions against Iraq. In another document, the lawyer Kabalan instructed Mossack Fonseca in 2005 to issue new shares for BB Naft because the originals had been sold to BB Energy Holdings N.V., a Curacao-based company publicly listed as part of the BB Energy group. Security agencies have warned against gangs attempting to kidnap unaccompanied children. The arrangement would also allow the cash-strapped Venezuelan state company to receive faster payment, sometimes avoiding the usual 30-to-90 day timeframe for completing oil transactions. Every time something was purchased in dollars, it could not be done because the Cuban checks in dollars were automatically canceled because the dollars belong to the U.S. Federal Reserve, the source said. We encourage anyone to comment, please consult, 43 Lords have financial interests in fossil fuel industry, How the UK helps the worlds kleptocrats and crooks deliberately, In the fight for racial justice, optimism is not enough, Staff and students in universities across the UK deserve better, The disturbing resurgence of antisemitic conspiracy theories, Creative Commons Attribution-NonCommercial 4.0 International licence. All the other commercial activities were not affected by any sanctions because these regulations do not exist as such, he wrote in an email, adding that Mexico, Canada and the European Union have laws prohibiting their citizens and companies from obeying U.S. sanctions on Cuba. Fuel poverty and energy efficiency are inevitably linked, the less efficient a property is the costlier it is to heat. The judiciarys opening of this file occured to the beat of a political debate that the judiciary does not seem to be far from, especially as opening such a file occurred according to a report presented by the leader in the the Aounist party, lawyer Wadih Akl, and investigations were conducted by Judge Ghada Aoun. Tory whips threatened MPs with the loss of local funding unless they fell into line. 2022 LOrient-Le Jour. Instead of seeking to polish and rescue parliaments reputation, Labour and the unions should be campaigning for a complete clean out of corrupted MPs. The PDVSA source said the agreement had received the consent of all three parties and was being executed. The U.S. Treasury Department declined to respond to a request for comment. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. The Bassatne family incorporated BB Naft Trading S.A. in Panama, with Jrgen Mossack as a director. Randox later received a 347 million contract. Our operations in these products are global and we use our storage and logistics for blending and optimising timely deliveries to fulfil customer requirements. Records of a meeting in Dubai in March of 2011 reflect a decision to significantly reduce the capital of BB Naft, held by BB Energy Holdings NV., from $8 million to $1.050 million. But so much of the criticism is phrased as a defence of parliamentary standards and the good name of British democracy. Rosneft would also make a profit by receiving an intermediation fee, the source and an internal PDVSA document said. Could Oil and Gas Inspire Change in Lebanon. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. Read about our approach to external linking. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. Their combined donation amounts to a total of 54 million. Edif. All of which can give our clients a competitive edge. Rosneft, which has heavily invested in Venezuela under President Vladimir Putin, did not respond to a request for a comment before Reuters published its story on Thursday. BB Energy places emphasis on environmental protection as well as health and safety, particularly regarding oil-related storage activities. BB Energy Location 12-14 Ansdell St, London, Essex, W8 5BN, United Kingdom Description Read More Industry The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. This was set to be voted on in parliament. The Committee on Standards suggested Paterson should just be suspended from the Commons for 30 days. After the Reuters story ran, Rosneft strongly denied the report, describing it as a blatant lie and a provocation against Rosneft. In response to Reuters story, Rosneft has denied it has acted as an intermediary for payments to PDVSA. Other leaked Mossack Fonseca documents show the interwoven complex of offshore companies created by the Cuban government to import and export goods and invest funds abroad with the assistance of the Panamanian law firm. And most trade union leaders went down the same path. Responding to Reuters story, Reliance strongly denied making any payments via third parties to PDVSA. It held all the shares of Euro Foods Ltd., which was registered in the Bahamas and in turn represented ALIMPORT. The need for transparency in that case is even more pressing given the fact that the director of the Oil Installations, Sarkis Hleiss, is at the center of investigations into the fuel import scandal. Ukraine's track record of massive corruption in energy is a sadly familiar story. To enjoy unlimited access to all LOrient Today content, subscribe. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. What's more, one of the Algerian state-owned energy firm's subsidiaries has found itself in the crosshairs of a Lebanese court. The documents found in the Panama Papers are dated as far back as the early 1990s, when the Cuban economy crashed following the end of Moscows massive subsidies to the island. Hayes declared his role at the oil. Potential forms of corruption include bribery, theft, collusion and bid-rigging. Panama Papers: Secret buyer seals deal for South Beach condo, U.S. investigated energy weapon, even aliens, but Havana Syndrome origin still unclear, Amid controversy, Biden administration shortens visit by Cuban Border Guard officials, Rubio questions planned visit by Cuban Border Guard delegation to Washington next week, Facebook takes down hundreds of fake accounts linked to the Cuban government targeting critics, A silent crisis: Miami experts discuss recent migration in South Florida at Herald townhall, Did a U.S. rapper make it rain money in Havana? The trial is a step in the right direction, he said. RECOMMENDATIONS 2.1. Private landlords and housing associations may apply for a grant on behalf of tenants who meet the eligibility criteria. Teddy Rahmeh and his company, ZR Group SAL Holding, are not involved in importing fuel oil to Lebanon, the representative of ZR Group Holding SAL said, denouncing the charges as a political conspiracy. The case has revealed the need to make all state contracts in the energy sector publicly available, including a 20-year contract signed in 2018 with Russian company Rosneft to rehabilitate and manage the Tripoli Oil Installations. The Panama Papers show Dupont-Willemin as a director of a total of 49 offshore companies in the British Virgin Islands, five in Panama and two each in the Bahamas and Seychelles islands. While former energy ministers who signed and renewed the contract have been questioned, they are not currently at the center of criminal investigations. Its worth mentioning that influential Lebanese politicians, from both ends, support these companies and compete to impose them as fuel importers. LONDON, July 28 (Reuters) - Oil trading firm BB Energy has hired Jacques Erni as its new chief financial officer (CFO) starting Aug. 2 based in Dubai, the company said. A convoluted email by a Cuban lawyer for Tecnica Hidraulica, registered in the British Virgin Islands (BVI), showed all its shares were held by Cubas Tcnica Hidrulica, S.A. This is why parliament cannot be relied on for fundamental climate action. Overview of anti-corruption in the renewable energy sector The renewable energy sector is a rapidly growing market that is crucial to increasing access to energy and supporting climate change mitigation. BBE maintains . Thats the case of Racuza S.A., incorporated in the British Virgin Islands. (Credit: Philippe Hage Boutros/OLJ). BBE has consolidated experience in trading, operations, chartering, logistics, storage, refining, and financing, trading in excess of 40 million metric tonnes (MT) of crude oil, petroleum product, and gas in 2021. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. This story was originally published June 7, 2016, 10:06 AM. On top of Patersons 81,932 salary, he took home 8,333 a month to lobby on behalf ofhealthcare company Randox Laboratories. Fresh scrutiny has been applied after it was revealed former Attorney General Sir Geoffrey Cox was being paid hundreds of thousands of pounds advising the British Virgin Islands' government in a corruption investigation. Stakeholders in renewable energy value chains include not only manufacturers, suppliers and users but also government agencies, financial institutions and private technology companies, as well as informal local networks. Ltd., in February of this year to import 2,880,000 barrels of diesel fuel. Testimonies collected by Mount Lebanon Investigative Judge Nicolas Mansour as part of the preliminary investigation pointed to suspected shady deals to forge lab tests for the fuels quality specifications, and to the involvement of employees at the labs as well as senior officials at the Energy Ministry, including the director-general of oil installations, Sarkis Hleiss. One of the more intriguing schemes mentioned in the documents puts Cuba at the heart of a deal to sell Russian oil to Latin America through a company registered in Panama by the Bassatne family. This means you can get up to 7,500 worth of measures installed for a maximum contribution of 2,500. Those sanctioned include the oil trading firms Swissoil Trading and Malta-based Elemento Ltd., as well as Swissoil owner Philipp Paul Vartan Apikian, Spanish-Venezuelan citizen Francisco Javier D'Agostino Casado, and core facilitator and Italian citizen Alessandro Bazzoni. There seems to be a tendency to prosecute managers and employees of the Lebanese Al-Zahrani Electricity Company as accomplices and facilitators of these operations; and while ZR Energys owners are being interrogated, the investigations will expand to reach the date of signing the contract with the Algerian company in 2005. BB Energy, a leading global independent energy trading company, is pleased to announce that it has successfully refinanced and expanded a$580 millionsenior secured borrowing base credit facility (the Facility). As the pandemic highlighted, it is a mechanism for the enrichment of the tiny elite of business people who have an inside track to ministers and top civil servants. We fully anticipate that the final charge will also be dismissed, he said. After Rafik Damak was appointed by Ould Kaddour as the manager of the London branch in October 2017, the latter was able to remove many of the companys traditional clients out of the way. The findings of another inquiry by the Electoral Commission was handed to the Tories just before the government attempted to smash up the existing standards regime. Both Mr. Rahmeh and ZR Group have been subjected to a politically motivated witch-hunt underpinned by a campaign to distract from Lebanons political failings. Riad Bassatne and his son Wael remained owners of the remaining shares. It is up to the criminal court to render a decision on the merits of the case. Lucia Kassai and . The case is now with the Mount Lebanon Criminal Court, presided over by Mohamad Mortada. Founded in Lebanon, BB Energy is one of the worlds leading independent energy trading companies, trading more than 33 million metric tonnes of oil every year. 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