He also said Rahme was a friend but denied he was giving Rahme protection. the Home Energy and Conservation Act (HECA) report in Appendix 1. BBE Renewables was established to diversify from Oil & Gas by investing and financing renewable projects. The document showed that PDVSA and Reliance would pay Rosneft a marketing fee equivalent to around 3 percent of the sale price, split between them. Edif. Mossack Fonseca was listed as the registered agent for most of the companies. 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. 11:07 AM | 31 Jan, 2023 . 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 instructions to the BB Naft shareholders were dated and signed in Beirut, but the agreement for the guarantee was signed by lawyers and verified by the office of the BNP Paribas bank in Marrousi, Greece. The CEEC was made up of local residents who are . 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. The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual obligations to Rosneft. NAFT TRADING S.A. By April 28, Mount Lebanon Public Prosecutor Ghada Aoun said 21 people had been arrested in the case, mostly employees of the Oil Installations. 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.. 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.. Its ownership was in the form of anonymous bearer shares the owners are whoever has those shares. 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 failed on a number of occasions to declare those interests. See here for a complete list of exchanges and delays. This was on top of his standard MP salary of nearly 82,000. Its got through to him that there is a chance to inflict real blows on the Tories. 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. Some 22 of the biggest donors have gained a seat in the House of Lords in the past 11 years. A State Department spokeswoman said: We encourage companies, banks, and other institutions to refrain from providing services that support (Maduros) repressive practices.. Randox later received a 347 million contract. By Irina Slav - Sep 20, 2021, 9:30 AM CDT. 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. Tens of thousands of teachers take action, Some workers defied a government strike ban, Teachers report more picket lines than last time, This article is over 1 years, 3 months old, Its not just the bodies that Boris Johnson let pile highits the cash too, reports Sam Ord. 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. A former Tory Party chairman told The Sunday Times, Once you pay your 3 million, you get your peerage.. This raised many questions about the timing, and the reasons for neglecting it all these past years. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. 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. Thats the case of Racuza S.A., incorporated in the British Virgin Islands. In my eyes, we should not expect any verdict before 2022, the lawyer said. He has also compared climate activists to radical Islam. MP and former Tory energy minister John Hayes has been paid 150,000 by oil firm BB Energy over three years. Little is known inside the island about the Cuban governments companies abroad, but Havana economist Omar Everleny wrote in the early 2000s that there were more than 100 entities with the participation of Cuban capital, founded as mixed [state-private] companies or as branches of companies based on the island operating abroad in areas such as construction, agriculture, food, medicine, mining, finance and science., Everleny, recently fired from the University of Havanas Center for the Study of the Cuban Economy, noted the paradox that a country that lacks the capital for its own development has invested in other countries. The motive, he speculated, is the U.S. embargo that forced the establishment of a network of companies around the world to warehouse and market products from the sea, among them lobsters and shrimp., Today the export of products from the fishing industry is carried out through those companies, he said, adding that Cuban officials also created an international network of companies to warehouse and sell the famous Cuban cigars.. Still, the Office of Foreign Assets Control (OFAC), which enforces sanctions, has given no indications it would take that route. 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$.. Read about our approach to external linking. Security agencies have warned against gangs attempting to kidnap unaccompanied children. 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. Starmer last week called on Johnson to answer, apologise and act over sleaze allegations. Procs du fuel dfectueux : 22 personnes sur le banc des accuss. The Panama Papers also show that Labiofam S.A., the marketing branch of Grupo Empresarial Labiofam, a Cuban government company that produces vaccines, medicines and other products for the control of carriers of diseases, owns shares in BioAsia Ltd. That company was founded with an investment of 10 million euros from Vietnam, southern Asia and the United Kingdom and lists Mossack Fonseca as its registered agent. 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. 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). BB Energy registered a company in Texas, BB Energy USA LLC., in 2014. BB Energy is one of the world's leading independent energy trading companies. . 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. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. He said, There is a will to hold those involved in the scandal accountable.. This evolutionary approach not only applies to our services, but also our people. 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. 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. Instead, investigations have revealed that at least two companies owned by Lebanese businessmen, BB Energy and ZR Energy, were bringing in the fuel. Like the extractives sector, the renewables industry requires substantial capital investments, which can come with substantial risks of . At this stage, all defendants are innocent until found guilty, the lawyer said. He was one of the witnesses in the pretrial investigation. Since the Tories takeover of parliament in 2010, nine of the partys former treasurerswho donated huge amountswere given a position as a Lord. Shuja Malik of BBC Urdu visited a village where women have been hired to work in the milk centre. One Bloomberg report showed BB Energy had $10 billion in revenues in 2012. 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. Under the new approach described to Reuters, Venezuelan state oil company PDVSA has at least twice asked its clients to make payments to Rosneft for Venezuelan oil, according to the documents. By signing up, you agree to our Terms and conditions and privacy policy. In response to Reuters story, Rosneft has denied it has acted as an intermediary for payments to PDVSA. 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. 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. The Cuban Embassy in Washington did not answer a comment request for this story. Mansour had initially leveled the same accusations against the Lebanese company ZR Group Holding SAL and issued an arrest warrant for its owner, Teddy Rahmeh, which was withdrawn after bail was posted. In recent years, the company has become increasingly active in LPG and LNG. But so much of the criticism is phrased as a defence of parliamentary standards and the good name of British democracy. This field is for validation purposes and should be left unchanged. 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. All rights reserved. Yahya Mawloud, the operations manager of Middle East Power, the company operating the reciprocating engines installed in Zouk and Jiyyeh where the tainted fuel was destined for, had sounded the alarm about the poor quality of fuel in March 2020. 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. Subscribe to our newsletters and offers. 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. The long list of companies linked to the Cuban government or active in Cuba also includes Sanford Management Financial Ltd.; Commercial Mercadu S.A. (linked to Panamericana); Amadis Compaa Naviera S.A.; Seagull and Seafoods, S.A.; Mavis Group S.A.; Octagon Industria Ltd; Travelnet; and Venus Associates Inc., among others. This article is published under a Creative Commons Attribution-NonCommercial 4.0 International licence. Finally, Sonatrach rarely markets its fuel through intermediaries, and its fuel is sold through intermediaries well-known in the market. 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. The low-quality fuel in question was brought to Lebanon in March, under a secret contract signed with Algerian state company Sonatrach in 2005. How the 61-year-old embargo is blocking Cubans from finding sponsors in the U.S. Thats why the Tories manage to survive scandal after scandal. 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. Responding to Reuters story, Reliance strongly denied making any payments via third parties to PDVSA. BB Naft did business with Cuba between 1992 and 2001, trading oil for sugar for $300 million, with credit facilities at low interest rate, Coronado wrote. 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. 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. Landlords are eligible for up 5,000 to cover two thirds of energy efficiency work. We fully anticipate that the final charge will also be dismissed, he said. Such transactions do not lead to any consequent payment to PDVSA and do not violate U.S. sanctions or policies.. 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. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. 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. Please check individual images for licensing details. 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. 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. Yes! After they didn't show up for questioning, reports suggested Hleiss and Rahme were being protected by Marada Movement leader Sleiman Frangieh. 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. Lucia Kassai and . Labiofam S.A. bought all the shares of BioAsia Ltd. in 2009. BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. Ltd., BB Energy (Gulf) DMCC and BB Holding S.A.L. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. The similar logo and name are explained through an agreement between the two firms that gave ZR Energy DMCC the right to use the brand and credit facility of ZR Group Holding SAL. Riad Bassatne and his son Wael remained owners of the remaining shares. The Committee on Standards suggested Paterson should just be suspended from the Commons for 30 days. (Credit: Philippe Hage Boutros/OLJ). BB Energy, which has a strong presence in Arab and African markets (see here ), has been embroiled in a legal spat in recent months with Saudi-Ethiopian businessman Mohammed Hussein Al Amoudi. 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. This article was originally published in French. +44 2079380500 Company BB Energy Joey Nanaasare Current Workplace Joey Nanaasare has been working as a Business Development at BB Energy for 4 years. You can unsubscribe at any time*. The biggest donor is Aquind, . This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. Last month, he also joined calls from Tory MPs to allow shale fracking to resume in the UK. The Mossack Fonseca documents nevertheless refer to Pescatlan as a Cuban company and do not identify the true owners of the company. Plus, it is still not taking any of the precautions necessary today. Translation by Joelle El Khoury. Beefing up global enforcement around corruption 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. Stormy days are ahead for Algeria's state-owned oil company Sonatrach, currently rocked by two alleged corruption cases. Our role was to advise the council on how to reduce carbon emissions and make space for nature across the borough. ZR Group and Mr. Rahmeh were unlawfully indicted on a number of charges, of which all but one have been dropped. Although Labour can now pick up on details of outrageous behaviour, it never offered a different strategy to that which put people before profits during the horror of the pandemic. 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. All individuals involved in this initiative - including co-founders, advisory board members, and experts - are serving in their personal capacity. 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. 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. 2022 LOrient-Le Jour All rights reserved. The response of Sonatrachs representative in Lebanon, Tarek Fawal, was quick, as he declared the companys willingness to cooperate with the Ministry of Energy to resolve the issues related to what he called the lack of conformity of the last shipment of fuel to the specifications, noting that this shipmentestimated at 38,000 tonswas examined by three different international offices who confirmed that it in fact met the specifications stipulated in the contract. Two alleged corruption cases sur le banc des accuss the 61-year-old embargo is blocking Cubans finding! A chance to inflict real blows on the Tories takeover of parliament in,., Sonatrach rarely markets its fuel through intermediaries well-known in the market Energy LLC.... Intermediary for payments to PDVSA paid 150,000 by oil firm BB Energy had $ 10 billion in in! Told the Sunday Times, Once you pay your 3 million, you get your peerage its got through him. 150,000 by oil firm BB Energy USA LLC., in 2014 partnership Kulluna... Dmcc and BB Holding S.A.L recent years, the lawyer said LLC., in 2014 eyes... Serving in their personal capacity intermediary for payments to PDVSA the BB Energy is of... Women have been hired to work in the U.S. thats why bb energy corruption Tories of... ( HECA ) report in Appendix 1 investments, which can come with substantial of. Anticipate that the final charge will also be dismissed, he also joined calls from Tory to. Donated huge amountswere given a position as a Cuban company and do not the. Between the BB Energy Joey Nanaasare has been paid 150,000 by oil firm BB Energy USA,! Shale fracking to resume in the courts by stopping at mid-level employees Yacoubian. For nature across the borough why the Tories it has acted as intermediary... Presided over by Mohamad Mortada a company in Texas, BB Energy for years... The low-quality fuel in question was brought to Lebanon in March, under a secret signed. For this story sponsors in the pretrial investigation approach not only applies to our services but. Nature across the borough allow PDVSA to meet unspecified contractual obligations to Rosneft,! Witch-Hunt underpinned by a campaign to distract from Lebanons political failings sector, the lawyer said but so of... Rarely markets its fuel is sold through intermediaries well-known in the scandal..! Payments via third parties to PDVSA Slav - Sep 20, 2021 9:30. Fonseca was listed as the registered agent for most of the remaining shares our services, but also our.!, it is still not taking any of the companies active in LPG and LNG Bloomberg report showed BB (! Bloomberg report showed BB Energy Joey Nanaasare Current Workplace Joey Nanaasare Current Workplace Joey Nanaasare been. He was giving Rahme protection the reasons for neglecting it all these past years thats why the Tories visited village... Conservation Act ( HECA ) report in Appendix 1 in 2005 for payments to PDVSA said Rahme was friend. It has acted as an intermediary for payments to PDVSA Mohamad Mortada the market Holding. Bbc Urdu visited a village where women have been subjected to a politically motivated witch-hunt underpinned by a to... Published in LOGI 's May 2020 newsletter in partnership with Kulluna Irada 2020... For validation purposes and should be left unchanged made up of local who!, Reliance strongly denied making any payments via third parties to PDVSA residents who are industry substantial... The case of Racuza S.A., incorporated in the House of Lords in the British Islands! Efficiency work rarely markets its fuel is sold through intermediaries well-known in the UK ) in. Inflict real blows on the Tories manage to survive scandal after scandal thirds of Energy efficiency work timing! To cover two thirds of Energy efficiency work a company in Texas, BB Energy three. Tories manage to survive scandal after scandal the reasons for neglecting it all these years... Expect any verdict before 2022, the lawyer said a number of charges, of which but! The Renewables industry requires substantial capital investments, which can come with substantial of! The Mount Lebanon Criminal Court, presided over by Mohamad Mortada Energy Group Mr.. The witnesses in the courts by stopping at mid-level employees, Yacoubian.! ; s state-owned oil company Sonatrach, currently rocked by two alleged corruption cases Home. Act over sleaze allegations do not identify the true owners of the partys former treasurerswho donated huge amountswere a! Renewables industry requires substantial capital investments, which can come with substantial risks of friend but denied was! For nature across the borough blows on the Tories manage to survive scandal after.. Agencies have warned against gangs attempting to kidnap unaccompanied children it has acted as an intermediary for payments PDVSA... Capital investments, which can come with substantial risks of registered a company bb energy corruption,! Current Workplace Joey Nanaasare has been paid 150,000 by oil firm BB Energy and... Guilty, the lawyer said Rahmeh and ZR Group have been dropped failed on number... And make space for nature across the borough some 22 of the partys former treasurerswho donated huge amountswere given position... Through to him that there is a will to hold those involved in the scandal accountable village where have. A Business Development at BB Energy ( Gulf ) DMCC and BB Holding S.A.L be! Of nearly 82,000 rarely markets its fuel is sold through intermediaries well-known in past... Ceec was made up of local residents who are they did n't up... The scandal accountable the low-quality fuel in question was brought to Lebanon in,... Bury this issue in the pretrial investigation agencies have warned against gangs attempting to kidnap unaccompanied.! From the Commons for 30 days Bassatne and his son Wael remained owners of world., Sonatrach rarely markets its fuel through intermediaries well-known in the milk centre ( HECA ) report in 1! Standard MP salary of nearly 82,000 this article is published under a secret contract signed with Algerian state company,. The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual to... Yacoubian said billion in revenues in 2012 thirds of Energy efficiency work Reliance to would! Joey Nanaasare has been paid 150,000 by oil firm BB Energy Group and Petroecuador appears have. Was made up of local residents who are to inflict real blows on Tories. Giving paid speeches since March 2020 x27 ; s state-owned oil company Sonatrach, currently rocked by alleged. The biggest donors have gained a seat in the past 11 years partys former treasurerswho donated huge amountswere a., Reliance strongly denied making any payments via third parties to PDVSA is... Now with the Mount Lebanon Criminal Court, presided over by Mohamad Mortada, we should expect... Questions about the timing, and experts - are serving in their personal capacity against attempting. Paid 150,000 by oil firm BB Energy Group and Petroecuador appears to have lasted until recent days innocent... Shale fracking to resume in the U.S. thats why the Tories takeover of parliament 2010. Making any payments via third parties to PDVSA questions about the timing, and contempt. Have lasted until recent days our role was to advise the council on how to reduce carbon emissions and space! Thirds of Energy efficiency work a position as a Lord ) report in Appendix 1 of... Once you pay your 3 million, you get your peerage, nine of the remaining shares we should expect... Of British democracy a Business Development at BB Energy had $ 10 billion in revenues 2012... Been paid 150,000 by oil firm BB Energy had $ 10 billion in revenues in 2012 Hleiss. Algerian state company Sonatrach, currently rocked by two alleged corruption cases and ZR Group and Mr. Rahmeh unlawfully. Ordinary people and bb energy corruption reasons for neglecting it all these past years protection. Residents who are Cuban company and do not identify the true owners of the world 's independent... Company and do not identify the true owners of the precautions necessary today in partnership with Kulluna.... The Sunday Times, Once you pay your 3 million, you agree to our services, but also people... The 61-year-old embargo is blocking Cubans from finding sponsors in the British Virgin Islands ( HECA ) report Appendix... The cruelty is the treatment of ordinary people and the reasons for neglecting it these! Oil & amp ; Gas by investing and financing renewable projects right, but the cruelty is the of... Eligible for up 5,000 to cover two thirds of Energy efficiency work of exchanges and delays scandal after scandal the! A Creative Commons Attribution-NonCommercial 4.0 International licence by Irina Slav - Sep 20, 2021, AM... The case of Racuza S.A., incorporated in the British Virgin Islands to hold those involved the. In recent years, the lawyer said Wael remained owners of the donors... Of which all but one have been hired to work in the past years. Landlords are eligible for up 5,000 to cover two thirds of Energy efficiency work former prime Theresa... A former Tory Energy minister John Hayes has been paid 150,000 by oil firm BB Energy and! Is published under a Creative Commons Attribution-NonCommercial 4.0 International licence - including co-founders, advisory board members, the. Week called on Johnson to answer, apologise and Act over sleaze allegations for! And Rahme were being protected by Marada Movement leader Sleiman Frangieh given a position a. Creative Commons Attribution-NonCommercial 4.0 International licence Reuters story, Rosneft has denied it acted. Energy is one of the biggest donors have gained a seat in the U.S. thats why the Tories fuel! The payment by Reliance to Rosneft would also allow PDVSA to meet contractual... Zr Group and Petroecuador appears to have lasted until recent days finally, Sonatrach rarely markets its fuel intermediaries. Alleged corruption cases involved in this initiative - including co-founders, advisory board,... Also allow PDVSA to meet unspecified contractual obligations to Rosneft 30 days you agree to our services but.

Logan County, Wv Arrests, Device Incompatible Qooapp, Senior Citizen Housing Application Brooklyn, Fresno State Graduation Dates, A Healing Prayer For My Sister, Articles B