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The PDVSA source said the company was proposing the new arrangements known as factoring to allow PDVSA clients to receive oil without making direct payments to the Venezuelan state oil company in the wake of Januarys sanctions. And the cosy dinners, the freebie trips and holidays, the football match tickets and the fat extra salaries to deliver for corporations must all go. Patersons lobbying interests extended to sausage company Lynns Country Foods who paid him 12,000 for just 24 hours of work each year. This comes on top of his standard MP salary of 81,932. Reliance said in its statement its purchases of Venezuelan oil from Rosneft do not lead to any payments to PDVSA. 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. When he was appointed, Hayes said he would advise the company on strategic plans in the context of changes in the worldwide energy market. The case is now with the Mount Lebanon Criminal Court, presided over by Mohamad Mortada. 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 its part, ZR Energy DMCC denied any involvement in illegal practices. Our operations in these products are global and we use our storage and logistics for blending and optimising timely deliveries to fulfil customer requirements. Shuja Malik of BBC Urdu visited a village where women have been hired to work in the milk centre. The money is in our account and as yet we have not paid anyone, said the spokesman. Speaking on condition of anonymity, a lawyer with knowledge of the proceedings said that there is no [indictment] at this point. It is up to the criminal court to decide on the merits [of the case], and to determine whether ZR Group Holding SAL and Rahmeh are involved in the case. Corruption in the Energy Sector Corruption has been defined by Robert Klitgaard3 as "the abuse of office for personal gain". John Hayes earns 50,000 per year as a strategic advisor for BB Energy, a major trader in crude oil and other petrochemical products. The publication was sponsored by Global Warming Policy Forum, a think tank founded by climate change denier Nigel Lawson. 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. Few traders had room to receive physical barrels at Cushing. Formed in the 1960s, the group's activities span six continents. Rahmeh, like the other defendants, presented preemptory defenses during the pretrial phase, which the judiciary accepted, except related to the charge of bribery, which it upheld. The governments own Climate Change Committee warned in March that there is little, if any, room for increased fossil gas consumption if the goals of the 2015 Paris Climate Agreement are to be met. He boldly claimed a delay would allow fossil fuels to become even cleaner. Digital Subscription $1,909 Premium Subscription $3,179 Best Value MPs are elected to provide a voice for their constituents in Westminster, but when they also have lucrative side-jobs for private companies it raises questions over whose interests they are really serving, said Alex Runswick, senior advocacy manager at Transparency International UK. By Irina Slav - Sep 20, 2021, 9:30 AM CDT. This is ostensibly because it was hard for the judiciary to find evidence linking ZR Energy DDMC and ZR Group Holding SAL, despite the testimonies collected by Mansour. BB Naft shareholder Wael Bassatne told El Nuevo Herald that his company did not violate the U.S. embargo because it is not registered and does no business in the United States. There have been unconfirmed reports that Luis Alberto Rodriguez Lopez-Calleja divorced Deborah Castro Espin in recent years, but he remains in charge of Grupo de Administracin Empresarial S.A., (GAESA) and the governments signature port of Mariel development project. Reporting by Marianna Parraga in Mexico City; Additional reporting by Luc Cohen in Caracas, Nidhi Verma in New Delhi, Julia Payne in London; Editing by Daniel Flynn, Simon Webb,David Gaffen and Marguerita Choy. The contents of the contract were never known to the Lebanese people, despite costing the treasury billions of dollars. According to an undated internal PDVSA document, Indias Reliance Industries Ltd - PDVSAs largest cash-paying client was also asked by PDVSA to pay Rosneft directly in April for oil sales under a long-term supply contract with the Venezuelan company. But he was forced to U-turn to try and end the wave of sleaze allegations. But the stench of corruption was too much. It has since been renewed four times. The biggest donor is Aquind, . The company said it saved Ghana over $2.8million when it sold the crude to the firm at a discount of $2 instead of the normal $5 a barrel. 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. Mango madness in IndiaSouth Asia diaspora reporter Gaggan Sabherwal shares the story of the Indian couple whove employed security guards after discovering they had planted an extremely rare mango tree by mistake at $50 a mango they aren't taking any chances! Ukraine's track record of massive corruption in energy is a sadly familiar story. Boris Johnson initially backed Paterson. It showed that fuel was of acceptable quality, when another test showed it was not. Still, the Office of Foreign Assets Control (OFAC), which enforces sanctions, has given no indications it would take that route. 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. The company, which has offices in Havana and other countries, was created to handle, among other things, its relationship with oil-exporting Latin American countries and with Cuba, Mossack Fonseca lawyer Rigoberto Coronado wrote in an email. That the committee review and comment on proposed and ongoing work to reduce fuel poverty. Ltd., BB Energy (Gulf) DMCC and BB Holding S.A.L. 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. Paterson had, on 16 occasions, used his House of Commons office for meetings relating to his private business interests. Employees are required to act honestly and ethically when dealing with business counterparts. In particular, the expensive refurbishment of the Downing Street flat. Miramar Playa. One of the directors of both Curtdale and Ardpoint starting in 2011 was Hernn Aguilar Parra, executive director of Grupo Empresarial de Tabaco de Cuba, known as TABACUBA, the governments tobacco monopoly. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. Its Havana address is Centro De Negocios Miramar, 5ta Ave. E/ 76 Y 78, Ofic. BB Energy Group has invested in Gasmeth Energy Global, a company focused on the responsibly extraction, processing, and distribution of methane gas from Rwandas Lake Kivu, one of the African Great Lakes. Edif. For some 15 years, the public were informed that Lebanon was purchasing fuel from the Algerian state company Sonatrach. At BB Energy, we are constantly evolving in order to meet new challenges, while developing our personnel to ensure a competitive edge. INTRODUCTION AND BACKGROUND 3.1. That the energy industry carries heightened corruption risks is well documented: when the OECD analysed 427 anti-bribery enforcement actions in 2014, they found that almost one in five related to the extractive industries. 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. (Credit: Philippe Hage Boutros/OLJ). 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. 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. One of the markets may have been Ecuador. 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. The justification of the Sonatrach executives for adopting this type of contract (Fronting), which is renewed every three years, was the position of the intermediary in the Lebanese market, in addition to his taking all the risks related to the deals. With approximately 24 million metric tonnes of physical crude oil, petroleum products and gas traded annually, BBE is one of the most active gas-oil, gasoline, fuel oil and bitumen traders. He also said Rahme was a friend but denied he was giving Rahme protection. It said it had purchased Venezuelan oil from Rosneft that was provided by PDVSA to the Russian company in repayment of past loans, so no money was flowing back to Maduros government. 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. The Cuban military is estimated to control at least 60 percent of the islands economy. After the report was published, Reliance did not respond to further questions from Reuters about why the PDVSA internal document proposed Reliance pay Rosneft a marketing fee related to the supply of crude under the Indian firms long-term supply contract with PDVSA. 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. 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. In the last seven years every Tory party treasurer has given at least 3 million and been offered a seat in the House of Lords. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. A State Department spokeswoman said: We encourage companies, banks, and other institutions to refrain from providing services that support (Maduros) repressive practices.. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. 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. Please detail the London Energy Project's revenue received, costs incurred and breakdown for both (ie where money was received from and how it was spent) for financial years 2015/16, 2016/17, 2017/18, 2018/19 and budget for 2019/20. It is worth noting here that Daraj previously investigated suspicious money transactions through Lebanese banks, for Nassim Ould Kaddour, the son of Abdelmoumen Ould Kaddour, based on Panama Papers (First National Bank and Socit gnrale de banque au Liban). 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.. The new certificates, for 800 shares, were to be issued in the names of 10 members of the Bassatne family, including 160 shares for Riad Bassatne. Guillermo Faustino Rodrguez Lpez-Calleja also appears as the representative of seven foreign companies registered in Cuba: Acemex Management Company Limited; Caroil Transport Marine Limited; Nautilus Shipping Overseas Corp.; Northsouth Maritime Company Limited; Gulf Lake Enterprises Ltd.; Acando Shipping Co. Ltd.; and Gilmar Project Finance Establishment. The CEEC was made up of local residents who are . 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. BB Energy places emphasis on environmental protection as well as health and safety, particularly regarding oil-related storage activities. It is also worth noting that Abdelmoumen Ould Kaddour used to be the manager of a Sonatrach branch at the beginning of the millennium before he was imprisoned on account of leaking information classified as military secrets. El Nuevo Herald identified at least 25 companies registered in the British Virgin Islands, Panama and the Bahamas and linked to Cuba. Their combined donation amounts to a total of 54 million. They have addresses in the Miramar and Old Havana neighborhoods of the Cuban capital. When MPs have lucrative side-jobs for private firms it raises questions over whose interests they are serving. After the Reuters story ran, Rosneft strongly denied the report, describing it as a blatant lie and a provocation against Rosneft. This story was originally published June 7, 2016, 10:06 AM. +44 2079380500 Company BB Energy Joey Nanaasare Current Workplace Joey Nanaasare has been working as a Business Development at BB Energy for 4 years. Sonatrach started supplying fuel to Lebanon in 2005. BB Energy ("BBE or the Group") was established by the Bassatne Family who started a commodities business in Lebanon in 1937, trading grain and asphalt. Fuel poverty and energy efficiency are inevitably linked, the less efficient a property is the costlier it is to heat. Panamericanas former director, Jos L. Fernndez de Cosso Domnguez, is listed in the leaked documents as a director of Miramar Investment Corporation Ltd, Euro Foods Ltd, Racuza S.A, Caribbean Sugar Trader, Mercaria Trading S.A. and Sabradell S.A. Fernndez more recently served as Cubas ambassador to Japan and economic attach at the embassy in Paris. As ordinary people lost their jobs and relied on furlough, many MPs increased their income from the start of the pandemic. They usually resort to those intermediaries when entering new markets that are unfamiliar to them, in order to benefit from their status inside this market, which they have done in several Asian countries before building direct relationships with the clients. Such transactions do not lead to any consequent payment to PDVSA and do not violate U.S. sanctions or policies.. They include Petrobras, Vitol, and Glencore Limited. 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. We made a separate appeal to examine the contract with Sonatrach, but it was rejected. BB Naft was listed in the Cuban registry of foreign companies operating on the island as of April of this year, with Riad Bassatne as director. This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. 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. Procs du fuel dfectueux : 22 personnes sur le banc des accuss. The managing team of Sonatrach, at that time, instructed Sonatrach Petroleum Corporation (London branch) to carry out the deal.The deal that was negotiated then created the branch of Sonatrach in London, a front for a Lebanese trader named Baha Bassatne, whose company (BB Energy) had been receiving a lions share of the profit margin obtained from these triangular business processes. Yes! These high paid speeches have addressed bank JP Morgan Chase and World 50 Incan exclusive club for senior executives. The internal PDVSA document reviewed by Reuters showed the Venezuelan state oil firm asked Reliance to pay for oil sales under the long-term contract via Rosneft Trading SA, the Geneva-based trading unit of the Russian oil giant. 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. However, Reuters was unable to independently verify if the agreement was implemented and remains in force. The Committee on Standards suggested Paterson should just be suspended from the Commons for 30 days. This evolutionary approach not only applies to our services, but also our people. Tory MP Owen Paterson announced his resignation last week following revelations of his shameless lobbying for big businesses. Russia has publicly said the U.S. sanctions are illegal and it would work with Venezuela to weather them. Oil accounts for more than 90 percent of exports from the OPEC nation and the lions share of government revenues. Hayes declared his role at the oil. She has formally requested a parliamentary investigation committee be formed to probe the matter. The Energy Ministry responded to criticism by explaining that resorting to large oil refineries made it possible to limit the commissions charged by intermediaries, and therefore limited the risk. Rosneft would also make a profit by receiving an intermediation fee, the source and an internal PDVSA document said. 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. Like the extractives sector, the renewables industry requires substantial capital investments, which can come with substantial risks of . 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.. By signing up, you agree to our Terms and conditions and privacy policy. His register of interests says he currently earns 50,000 in the role, for about 11 days work a year. 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 Mossack Fonseca documents nevertheless refer to Pescatlan as a Cuban company and do not identify the true owners of the company. Labiofam S.A. bought all the shares of BioAsia Ltd. in 2009. 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.. But so much of the criticism is phrased as a defence of parliamentary standards and the good name of British democracy. 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