bb energy corruptionbb energy corruption

This raised many questions about the timing, and the reasons for neglecting it all these past years. It held all the shares of Euro Foods Ltd., which was registered in the Bahamas and in turn represented ALIMPORT. Ltd. and Singapore-registered PowerCo International Pte. . 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. Corruption in the Energy Sector Corruption has been defined by Robert Klitgaard3 as "the abuse of office for personal gain". Boris Johnson initially backed Paterson. Tory whips threatened MPs with the loss of local funding unless they fell into line. How the 61-year-old embargo is blocking Cubans from finding sponsors in the U.S. 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. Some 22 of the biggest donors have gained a seat in the House of Lords in the past 11 years. ZR Group Holding SAL and ZR Energy DMCC are two separate corporate entities. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. Owen Patersonthe MP who lobbied for private companies in the pandemic (Picture: Flickr/ NFU Pics). The efforts to hide the Cuban governments hand in the offshore companies means that its officials, lawyers and other employees used as stand-ins could eventually become the effective beneficiaries of the shares in those companies. He added that in 1996 there was agreement on a triangular Russia/Cuba/Naft Trading S.A. deal to deliver Russian fuel to other markets for a number of tens of millions of US$.. BB Energy is one of the world's leading independent energy trading companies. The Lebanease newspaper, Al-Akhbar, published a tweet by the Former Energy Minister, Nada Boustani, in which she spoke of ministerial reports confirming the poor quality of fuel and demanding to go on with punitive measures against the suppliers. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. The offer letter, seen by Reuters with its date redacted, said that Rosneft had agreed with PDVSA to pay BB Energys $26 million debt to the Venezuelan state oil company and then to seek payment from BB Energy via a bank transfer or an equivalent oil cargo. BBC World Service - The Fifth Floor, Lebanon: A web of corruption Lebanon: A web of corruption As Lebanon endures worsening blackouts and fuel shortages, BBC Arabic investigates the. This was on top of his standard MP salary of nearly 82,000. For some 15 years, the public were informed that Lebanon was purchasing fuel from the Algerian state company Sonatrach. He also said Rahme was a friend but denied he was giving Rahme protection. A letter sent to the Panamanian law firm in 1997 requested assistance organizing a fishing operation in the Turks and Caicos Islands with Cuban-flagged fishing boats.. Such transactions do not lead to any consequent payment to PDVSA and do not violate U.S. sanctions or policies.. The report by the All-Party Parliamentary Group for Fair Fuel for UK Motorists and UK Hauliers decries the environmental evangelism and virtue signalling of the governments plan to phase out new petrol and diesel engines by 2030. Its stated aims are to challenge what it describes as the extremely damaging and harmful policies designed to mitigate climate change. Edif. The Web page of the Cuba-Lebanon Businessmens Council lists a Riad Bassatne as a member of its board of directors and describes him as president of BB Naft Trading and member of the board of directors of BB Energy., Wael Bassatne nevertheless insisted that there are no commercial or financial relations between BB Naft Trading S.A. and the BB Energy Group. He added that BB Nafts activities in Cuba included the sale of spare parts and agricultural machinery.. 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. During his time as energy minister, Hayes caused controversy by refusing to support any further expansion to onshore wind power, describing wind turbines as a terrible intrusion. Employees are required to act honestly and ethically when dealing with business counterparts. 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). and Promotora de Cigarros S.L., two companies registered in Spain and involved in the sale of Cuban cigars. They also considered that the profit margin of the company (3.5 USD) was fair, as the company is not charged with any liabilities. It is up to the criminal court to render a decision on the merits of the case. The subsidiary subcontracted the deal to two private companies BB Energy, owned by the Bassatne family, and, beginning in 2017, Dubai-based ZR Energy DMCC, owned by Ibrahim Zaouk. (An attorney for Hleiss, who has been accused of fleeing, has publicly denounced certain aspects of the legal procedures.). The spoiled fuel scandal is a result of the commercial practices of the Sonatrach executives in collusion with Lebanese merchants, both of which were condoned by the relevant authorities in both Algeria and Lebanon. Laurence Robertson . Copyright 2023 BB Energy. BB Energy places emphasis on environmental protection as well as health and safety, particularly regarding oil-related storage activities. The government was forced to go back on itself and announced there would be a vote on Patersons suspension. 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. The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. It showed that fuel was of acceptable quality, when another test showed it was not. The Lebanese judiciary expanded investigation into the fuel import file, and considered that the Algerian company charges commissions just because it is a front for the actual fuel supplier. Asked about Rosnefts offer and the fuel cargo payment, a spokesman for BB Energy said the company had not completed the transaction, under guidance from legal counsel. The Cuban military is estimated to control at least 60 percent of the islands economy. Successive . 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. Le Commerce du Levant / By Nada MAUCOURANT ATTALAH, Fouad Gemayel, 28 May 2021 19:51, Twenty-two defendants are set to appear before a criminal court on charges related to a tainted fuel case that dates back to March 2020. 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? All quotes delayed a minimum of 15 minutes. In one email exchange in 2011 involving a British company representing ALIMPORT the Cuban state agency that handles food and agricultural imports, valued at nearly $2 billion in 2014 that wanted to open an account with the BBVA bank, a bank employee in Great Britain asked why documents related to Miramar Investment Corporation Ltd had been notarized in Switzerland. 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. 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 Bulk Oil Storage and Transportation Company Limited (BOST) has absolved itself of any wrongdoing in the sale of 942,000 barrels of crude to Lebanon-based oil firm, BB Energy. 310. The trial is a step in the right direction, he said. Yes! Baha Bassatne remained the sole Sonatrach broker until Abdelmoumen Ould Kaddour was appointed general manager of the company and imposed another intermediary. The Mossack Fonseca documents nevertheless refer to Pescatlan as a Cuban company and do not identify the true owners of the company. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. NAFT TRADING S.A. After the return of Ould Kaddour to Sonatrach as its general manager in April 2017, it was not long before he imposed yet another intermediary besides Baha Bassatne. While former energy ministers who signed and renewed the contract have been questioned, they are not currently at the center of criminal investigations. If you have any queries about republishing please contact us. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. 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. The analysis and opinions they express through LOGI are their own and do not reflect the view of their respective employers. The charges pressed at the end of the investigation consist of a foundation for a trial. All of which can give our clients a competitive edge. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. One Bloomberg report showed BB Energy. Link to this Report. . Its got through to him that there is a chance to inflict real blows on the Tories. 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. Issues with the quality of the fuel imported to Lebanon were uncovered by Yahya Mawlud, the director of Middle East Power, which runs turbines at the Zouk and Jiyyeh power plants. 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. When MPs have lucrative side-jobs for private firms it raises questions over whose interests they are serving. John Hayes works for BB Energy as a strategic adviser, Politicians accused of being worryingly cosy with oil and gas firms as its revealed almost one in ten Tory peers has financial stake in the sector. These trading experts are supported by a highly skilled team of operations, shipping and financepersonnel concentrated in Athens. The Office for Budget Responsibility warned in July that while the costs of reaching net zero are significant, they could be much higher if the government delays acting until 2030. BB Naft does not appear, however, among the subsidiaries listed on BB Energys Web site. The CEEC was made up of local residents who are . Real-time updates and all local stories you want right in the palm of your hand. The Lebanese National News Agency announced that the attorney-general of Mount Lebanon, Ghada Aoun, issued arrest warrants against 17 people working in the fuel sector because of import irregularities. 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. 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. Its worth mentioning that influential Lebanese politicians, from both ends, support these companies and compete to impose them as fuel importers. Behind the scandalous lies and appalling plunder by the political elite and their business backers lies their drive to profit from pandemic suffering. Word in the news: black rain Children love it, businesses hate it Pody Lui from BBC Hong Kong explains the rain warning system, and why black rain warnings are taken so seriously. One knowledgeable source who asked to remains anonymous said the Cuban government also has registered companies, ships and airplanes in Panama and other countries to get around the embargo and avoid court-ordered seizures to settle its many debts abroad. As Johnson announced Covid safety restrictions in March 2020, the government handed Randox a 133 million contract to manufacture Covid tests. The PDVSA source said that Rosneft credited PDVSA the amount, minus an undisclosed fee, and then started talks with BB Energy to recover the sum it advanced PDVSA. There is no overlap of ownership or management between the two companies, a representative of ZR Energy DMCC told Le Commerce du Levant. We hope to welcome you among our subscribers. Finally, Sonatrach rarely markets its fuel through intermediaries, and its fuel is sold through intermediaries well-known in the market. Could Oil and Gas Inspire Change in Lebanon. That the committee review and comment on proposed and ongoing work to reduce fuel poverty. Registered in: Panama Linked countries: Cuba Agent: Mossack Fonseca Search in: The Panama Papers data is current through 2015 read more Incorporated: 21-DEC-1984 Status: Active Connections: Linkurious and Neo4j Officer (3) Intermediary (1) Explore more from Panama Papers Mossack Fonseca The players Khalid Mahmood (Labour) has committed up to 15 hours a month advising the Policy Exchange think tank on issues including extremism. Listed as a director of one of the companies is a brother of Gen. Luis Alberto Rodrguez Lpez-Calleja husband of Cuban ruler Raul Castros daughter and powerful head of the Cuban armed forces business conglomerate, GAESA. Last month, he also joined calls from Tory MPs to allow shale fracking to resume in the UK. The women pushing boundaries in Pakistans rural milk marketIn rural Pakistan women milk cows, but male relatives take the milk to male-run collection centres. 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. Russia has loaned Venezuela almost $16 billion since 2006, which is being repaid in oil shipments, and has also taken significant stakes in petroleum projects, meaning it already controls a large slice of the South American countrys production. The UK energy industry is facing a wave of bankruptcies amid a gas supply crunch that has sent electricity prices soaring, leaving suppliers vulnerable . Tainted fuel scandal: 22 people and entities to stand trial. As Lebanon endures worsening blackouts and fuel shortages, BBC Arabic investigates the disastrous state of the country's electricity sector. All individuals involved in this initiative - including co-founders, advisory board members, and experts - are serving in their personal capacity. The Public Prosecution in Mount Lebanon has triggered a heavy-caliber scandal, by arresting two dealers who were supposed to supply the Lebanese Electricity Company with Algerian fuel used in generating electricity. The legal proceeding is not expected to be decided before next year. The biggest donor is Aquind, . The offer letter, seen by Reuters with its date redacted, said that Rosneft had agreed with PDVSA to pay BB Energy's $26 million debt to the Venezuelan state oil company and then to seek. No overlap of ownership or management between the two companies registered in the pandemic Picture. U.S. sanctions or policies the true owners of the company its got through to him that there is no of... 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