At parliament we will try to make sure that high level responsibility is also explored - including all the ministers who stayed silent over the years., Fuel import scandal shows why transparency matters. Lebanese judicial sources told Daraj that the investigation will not be limited to the technical specifications of fuel, but will also include the commissions Sonatrach is making. 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. Three of the four experts said the U.S. Treasury had the latitude to act against companies or governments it deemed to be providing material support to a sanctioned entity, like PDVSA. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. Security agencies have warned against gangs attempting to kidnap unaccompanied children. The procedures may take a long time, particularly because the number of defendants is high. 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. Owen Patersonthe MP who lobbied for private companies in the pandemic (Picture: Flickr/ NFU Pics). However, the criminal court announced his innocence to the Algeria Judicial Council, which was concerned with the ongoing investigations in the second Sonatrach case. 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 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. In 1963 they entered the oil sector in Lebanon and were primarily involved in local marketing of oil products and importation of Bitumen. The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. In his self-pitying resignation letter he blamed the cruel world of politics. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. 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 Home Energy and Conservation Act (HECA) report in Appendix 1. In 2003, for example, BB Naft agreed to guarantee and meet the obligations of a loan obtained by BB Energy (Asia) Pte Ltd. from the Standard Chartered Bank of Singapore. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. The proposed payment mechanism is the latest sign of the growing proximity of Venezuelas cash-strapped government to Russia as the United States tightens a financial noose around Venezuelan President Nicolas Maduro, who it describes as a dictator. It is up to the criminal court to render a decision on the merits of the case. You can unsubscribe at any time*. Employees are required to act honestly and ethically when dealing with business counterparts. The family controls BB Energy, a conglomerate founded in Lebanon in 1937 that buys and sells 16 million metric tons of crude and derivatives each year. The Cuban military is estimated to control at least 60 percent of the islands economy. Swiss lawyer Albert-Louis Dupont-Willemin appears as a director of several of the Cuban companies, among them Miramar Investment Corporation Ltd. and Pescatlan S.A. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. 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$.. My journey to journalism: Elodie TotoElodie Toto of BBC Afrique tells the story of what inspired her to become a journalist, and takes us on a journey from the suburbs of Paris to Kinshasa, capital of the Democratic Republic of Congo. Moreover, he denied any relationship with the ZR Energy trading company. One of the markets may have been Ecuador. 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. . The London branch of the Algerian Sonatrach published a statement through the Algerian News Agency, saying that whoever was presented by the media as an employee of Sonatrach is not, in fact, an employee in the company, but an independent marine agent who monitors shipments in Lebanon for the benefit of the companys branch in London. The Algerian company tried to imply that the issue is limited to the technical specifications of the fuel. The decision to award ZR Energy DMCC a new contract, despite its alleged involvement in the tainted fuel case, was explained by the presumption of innocence a principle applicable as long as no [verdict] was issued, an official source said. It is assumed that companies will have more trust in documents certified in Switzerland than in Cuba.. 1) BB Energy Holdings N.V., Curaao Our holding company involved in global Oil & Gas trading activities and owns the below subsidiaries: BB Energy Trading Ltd., London Europe and the Mediterranean region BB Energy (Gulf) DMCC, Dubai Middle East, Arabian Gulf, Red Sea, East and South Africa, Pakistan, Western side of India and the CIS Forgery, using counterfeit documents, bribery, fraud and professional misconduct these are the charges brought against 22 people and entities following a pretrial investigation into a case of. BBC Arabic's Moe Chreif tells us about the biggest corruption investigation in the history of Lebanons energy sector, which resulted in allegations involving multi-million dollar agreements, bribery, and shipments of substandard oil. By April 28, Mount Lebanon Public Prosecutor Ghada Aoun said 21 people had been arrested in the case, mostly employees of the Oil Installations. 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.. If you have any queries about republishing please contact us. So the seller had to be told that payment would be in euros from a bank in Spain, for example, and Cuba lost on the currency exchange.. The company did not respond to a request for comment. Last month he and. But he was forced to U-turn to try and end the wave of sleaze allegations. BB Energy Group Holding Ltd. (DIFC) is managed by a Board of Directors comprising seven board members with five executive members and two non-executive members. He failed on a number of occasions to declare those interests. We hope to welcome you among our subscribers. Those front companies, the source added, also help Cuba carry out foreign trade transactions in U.S. dollars, forbidden by the embargo until President Barack Obama lifted the restriction earlier this year. These high paid speeches have addressed bank JP Morgan Chase and World 50 Incan exclusive club for senior executives. Wars, natural disasters and economic downturns have historically exposed children to the danger of trafficking and illegal adoption. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. Instead, investigations have revealed that at least two companies owned by Lebanese businessmen, BB Energy and ZR Energy, were bringing in the fuel. John Hayes earns 50,000 per year as a strategic advisor for BB Energy, a major trader in crude oil and other petrochemical products. Entity: B.B. The upgrade of the Number 10 flat is now expected to be the subject of another inquiry. Several shipments over at least the past three years were found to be non-compliant with quality standards. Behind the scandalous lies and appalling plunder by the political elite and their business backers lies their drive to profit from pandemic suffering. 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. Sonatrach started supplying fuel to Lebanon in 2005. Reuters could not independently verify that Rosneft ever made the advance payment to PDVSA. The Cuban government used the Panama law firm involved in the Panama Papers to create a string of companies in offshore financial havens that allowed it to sidestep the U.S. embargo in its commercial operations. The Bassatne family incorporated BB Naft Trading S.A. in Panama, with Jrgen Mossack as a director. And most trade union leaders went down the same path. For some 15 years, the public were informed that Lebanon was purchasing fuel from the Algerian state company Sonatrach. Proceed to our online shop below to find out more about the features in each package. Digital Subscription $1,909 Premium Subscription $3,179 Best Value BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. 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. Such deals, however, may be authorized by the Treasury Departments Office of Foreign Assets Control or the Commerce Departments Bureau of Industry and Security. 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 Our experienced traders are situated in our offices throughout the globe; industry specialists who count gas, crude oil, light and middle distillates, as well as bitumen, as their specialities. The Lincolnshire MP recently criticised the governments plan to bring forward a ban on selling new petrol and diesel cars, saying that a delay would allow fossil fuels to become even cleaner. An accountant for the British company All Worlds Food Ltd, Jose Da Silva, answered: I do not know the reasons why the documents were certified by a Swiss notary. Four high-level suspects, including Hleiss, and Teddy Rahme and Ibrahim al-Zouk of ZR Energy, did not respond to court summons and arrest warrants were issued for them. Hayes recently opposed a plan to bring forward a ban on selling new petrol and diesel cars. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. 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. In an effort to save him even this punishment, Johnson instructed Tory MP Andrea Leadsom to put forward an amendment and set up a committee to prevent his suspension. The news website Diario de Cuba has identified the director of foreign investments at the Foreign Trade Ministry, Dborah Rivas Saavedra, as another of the directors of Racuza, Miramar Investment Corporation Ltd and Caribbean Sugar Trader. 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. Rosneft would also make a profit by receiving an intermediation fee, the source and an internal PDVSA document said. MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. The case dates back to March 2020, when EDL reported to the judiciary that it had received a shipment of poor-quality fuel, even though the results of tests conducted at the port of exit and upon the fuels arrival at the Beirut port showed the opposite. Instead, investigations have revealed that at least two companies owned by Lebanese businessmen, BB Energy and ZR Energy, were bringing in the fuel. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. RECOMMENDATIONS 2.1. The Public Prosecution Office began investigating them to the backdrop of the ongoing debate, in Lebanon, over spoiled fuel bought by the electricity company from the Algerian oil company, Sonatrach, which ranked thirteenth in the ranking of oil companies in the world. Surprisingly, the contract, long presented as a state-to-state agreement, was in fact signed with Sonatrachs offshore subsidiary, which is registered in the British Virgin Islands. The Panama Papers, documents leaked to the International Consortium of Investigative Journalists and shared with the McClatchy Washington Bureau, Miami Herald and El Nuevo Herald, among others, contain hundreds of thousands of pages from the files of Mossack Fonseca, a Panama law firm with offices in 33 other countries. 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 Covid-19 public inquiry is a historic chance to find out what really happened. A letter sent in 1998 by a Mossack Fonseca employee to the international trade office at state-run Petroecuador referred to documents sent by BB Naft required to register the company. A 2005 fax also points to an initial contact with the Venezuelan governments Petroleos de Venezuela (PDVSA). 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. MP and former Tory energy minister John Hayes has been paid 150,000 by oil firm BB Energy over three years. Offer sent. 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. Zaouk is connected to Rahmeh, however, through another company, ZR Energy SAL Offshore, of which Rahmeh is a majority stakeholder and which, along with Zaouk, has a share in ownership of the Lebanese firm Domaz Holding. The branch he was managing, which was a subject for the report of the General Inspectorate of Finance, was dissolved. The practice has been banned since 2019, after a scientific report found it was not possible to accurately predict the probability of earthquakes linked to drilling. It has since been renewed four times. October 19, 2018, 15:03 IST DUBAI: Trading company BB Energy has raised a $245 million revolving credit facility to refinance existing credit and for general corporate purposes, it said on Thursday. Russia has publicly said the U.S. sanctions are illegal and it would work with Venezuela to weather them. Peter Quinter, an expert on U.S. embargo laws and former head of the International Law section of the Florida Bar Association, said the U.S. trade embargo on Cuba generally bars a company with a U.S. presence from doing business with Cuba directly or indirectly through an offshore branch, for example. The Liberal Democrats have ennobled five donors and the Labour Party, two. Lebanese judicial sources told Daraj that the investigation will not be limited to the technical specifications of fuel, but will also include the commissions Sonatrach is making. One lawyer for BB Naft, Noureddine Kabalan, asked Mossack Fonseca in April of 2008 to create a power of attorney so that the empowered person can be authorized to sign on behalf of the company in Syria and Iraq for specific transactions.. Tory MP Owen Paterson announced his resignation last week following revelations of his shameless lobbying for big businesses. The CEEC was made up of local residents who are . Stormy days are ahead for Algeria's state-owned oil company Sonatrach, currently rocked by two alleged corruption cases. 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.. Steve Goodrich, research manager at Transparency International, said the number of MPs who accepted visits to Azerbaijan - a petrostate with a big corruption and human rights problem - was. He also said Rahme was a friend but denied he was giving Rahme protection. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. This was on top of his standard MP salary of nearly 82,000. This story was originally published June 7, 2016, 10:06 AM. We fully anticipate that the final charge will also be dismissed, he said. This entire case rests on false assumptions backed up by entirely fabricated charges. This evolutionary approach not only applies to our services, but also our people. The PDVSA source said the agreement had received the consent of all three parties and was being executed. They include Petrobras, Vitol, and Glencore Limited. 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