MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. 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. The charges pressed at the end of the investigation consist of a foundation for a trial. 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 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. 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. 310. The contract may be summarized as follows: Sonatrach will give its name to the shipments of Baha Bassatne, who buys fuel from the Swiss company Vitol, for 3.5 dollars per metric ton, while he makes 25 dollars as profit in his deals with the end customer in Lebanon. She has formally requested a parliamentary investigation committee be formed to probe the matter. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. The development has had mixed reactions. The upgrade of the Number 10 flat is now expected to be the subject of another inquiry. Subscribe to our newsletters and offers. To enjoy unlimited access to all LOrient Today content, subscribe. At times, however, the shield of anonymity over Cuban companies is not very effective. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. Laurence Robertson . One Bloomberg report showed BB Energy. 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. A former Conservative minister who has criticised climate change policies and joined calls to restart fracking has been paid 150,000 by an oil firm, openDemocracy can reveal. ZR Energy DMCC was not aware of any deficiency and relied on the representations of independent and internationally recognised third-party testers who certified that it was on specification when ZR Energy DMCC handled the cargo, a representative of ZR Energy DMCC said. How the 61-year-old embargo is blocking Cubans from finding sponsors in the U.S. It is noteworthy that Mr. Fawal is not authorized to sign the companys contracts, and he assured the Lebanese judiciary that he is merely a representative of Sonatrach in the negotiation processes, and not in concluding contracts. This is an actual Pandoras box that goes far beyond the chapter currently in the hands of the judiciary, he said. 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. This field is for validation purposes and should be left unchanged. Please check individual images for licensing details. Russia has publicly said the U.S. sanctions are illegal and it would work with Venezuela to weather them. The Russian oil scheme appears to have been affected by the agreement between Cuba and Venezuela to exchange oil for medical services, and BB Naft expanded its work in Cuba in 2007 to include the sale of spare parts and batteries for autos and trucks, work boots, farm machinery, hardware for USD 5.3 million.. 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. 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. Offer sent. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. Socialist Worker (unless otherwise stated). I think we have more confidence in what didnt happen than what did.. They have not been called to account for the 37 billion spent on a failing test and trace system. As ordinary people lost their jobs and relied on furlough, many MPs increased their income from the start of the pandemic. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. This was on top of his standard MP salary of nearly 82,000. 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. 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 contents of the contract were never known to the Lebanese people, despite costing the treasury billions of dollars. : . Last month, he also joined calls from Tory MPs to allow shale fracking to resume in the UK. 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. 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. All of which can give our clients a competitive edge. On top of Patersons 81,932 salary, he took home 8,333 a month to lobby on behalf ofhealthcare company Randox Laboratories. Since sanctions were imposed, Reliance has made such purchases with the full knowledge and approval of the U.S. Department of State (USDOS), Reliance said. Reliance said in its statement its purchases of Venezuelan oil from Rosneft do not lead to any payments to PDVSA. Furthermore, in this context, the Lebanese judiciarys decision to seize this file can be explained long after companies have been getting commissions on the import of fuel. Such deals, however, may be authorized by the Treasury Departments Office of Foreign Assets Control or the Commerce Departments Bureau of Industry and Security. RECOMMENDATIONS 2.1. Ukraine's track record of massive corruption in energy is a sadly familiar story. Behind the scandalous lies and appalling plunder by the political elite and their business backers lies their drive to profit from pandemic suffering. . In view of the foregoing debate, were forced to return to the commercial relationship between Sonatrach and the Lebanese Ministry of Energy, and the pressure exercised by former Sonatrach CEO, Abdelmoumen Ould Kaddour, to adopt ZR Energy trading company as a second intermediary besides Baha Bassatne, as a supplier in the Algerian companys name; the thing that occurred a year and a half before opening the file. 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. This was set to be voted on in parliament. BB Energy registered a company in Texas, BB Energy USA LLC., in 2014. Proceed to our online shop below to find out more about the features in each package. 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. 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. 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. PDVSAs contemplated payment agreement with Rosneft is part of a series of methods used by Maduros government to gain access to cash, including selling Central Bank gold reserves. 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. Since 2018, John Hayes, who served as an energy minister in David Camerons government, has worked for BB Energy as a strategic adviser. He failed on a number of occasions to declare those interests. They escaped after senior adviser Dominic Cummings showed there was one law for the rich and another for the rest. 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. A zero tolerance approach to any deviance from such requirement is adopted throughout the group. 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. Yours faithfully, Kalim Rahman. 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). The Mossack Fonseca documents nevertheless refer to Pescatlan as a Cuban company and do not identify the true owners of the company. 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. 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. Yacoubian said that high-level responsibility for the secret contract with Sonatrach and years of faulty fuel imports should be explored. 2. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. By April 28, Mount Lebanon Public Prosecutor Ghada Aoun said 21 people had been arrested in the case, mostly employees of the Oil Installations. Hayes declared his role at the oil traders, and there is no evidence that rules have been broken. All individuals involved in this initiative - including co-founders, advisory board members, and experts - are serving in their personal capacity. All quotes delayed a minimum of 15 minutes. Regardless of whether payments flowed directly to PDVSA or remained in Russia to pay down debt, the proposed approach appears to present no violation of sanctions by any of the entities because no U.S. citizens, currency, companies or financial institutions seem to be involved, according to four sanctions experts consulted by Reuters. Longtime Labiofam director Jos Antonio Fraga Castro, a nephew of Fidel and Ral Castro, retired in 2014 amid the so-called revolutionary perfumes scandal, sparked when the company sought to sell perfumes inspired by Cuban revolutionary hero Ernesto Che Guevara and former Venezuelan President Hugo Chvez. Its worth mentioning that influential Lebanese politicians, from both ends, support these companies and compete to impose them as fuel importers. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. After they didn't show up for questioning, reports suggested Hleiss and Rahme were being protected by Marada Movement leader Sleiman Frangieh. Beefing up global enforcement around corruption Entity: B.B. BB Energy places emphasis on environmental protection as well as health and safety, particularly regarding oil-related storage activities. 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. Digital Subscription $1,909 Premium Subscription $3,179 Best Value 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. 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. By Irina Slav - Sep 20, 2021, 9:30 AM CDT. The CEEC was set up after H&F Council declared a climate and ecological emergency in July 2019. State-run Bangladesh Petroleum Corp., or BPC, has awarded the building contract to a consortium of Japan's Marubeni Corp., Vitol Asia Pte. The branch he was managing, which was a subject for the report of the General Inspectorate of Finance, was dissolved. This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. The CEEC was made up of local residents who are . Tory MP Owen Paterson announced his resignation last week following revelations of his shameless lobbying for big businesses. The current legal proceeding is limited to the Baltic, the ship carrying the poor-quality fuel, which was delivered in March 2020 by ZR Energy DMCC. 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.. 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. Moreover, he denied any relationship with the ZR Energy trading company. Wars, natural disasters and economic downturns have historically exposed children to the danger of trafficking and illegal adoption. 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 deal between the Lebanese and Algerian governments was to provide the Lebanese market mainly with heavy fuel oil to meet the needs of power plants, a fuel that Algeria does not produce in sufficient quantities, as the Algerian oil Saharan Blend is known for being a light crude type. Stormy days are ahead for Algeria's state-owned oil company Sonatrach, currently rocked by two alleged corruption cases. BB Naft does not appear, however, among the subsidiaries listed on BB Energys Web site. 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. 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 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. Above all, the government remains ahead in the opinion polls even though it presides over one of the worst death rates in the world. 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. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. 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. 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. The MP has also drawn comparisons between climate activism and radical Islam, writing: Radical Islam, Black Lives Matter and the Extinction Rebellion are cultural not economic movements which want to disown our collective past and so transform our very way of life and so dictate the future.. 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. Lucia Kassai and . Maduro has accused U.S. President Donald Trump of waging economic war against Venezuela. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. 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 evolutionary approach not only applies to our services, but also our people. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. Real-time updates and all local stories you want right in the palm of your hand. Miqati Says Cyprus Still Waiting for Lebanon's Ratification of Maritime Border Agreement. He also said Rahme was a friend but denied he was giving Rahme protection. MPs duly voted for it. 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. The report claims peerages appeared to be a reward to thank wealthy donors for funding the Tory party. 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 Read about our approach to external linking. He said, There is a will to hold those involved in the scandal accountable.. Sonatrach signed the contract while Ali ibn-Buzeid was the manager of the London branch, and Muhammad Shawki Rahhal was the marketing manager, who had been accused in the first Sonatrach lawsuit. The methods have frustrated Washington officials, who have in recent days questioned why sanctions have not had a more dramatic impact on Venezuelas finances. MP and former Tory energy minister John Hayes has been paid 150,000 by oil firm BB Energy over three years. The biggest donor is Aquind, . Petroecuador contracted BB Energy (Asia) Pte. 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 legal proceeding is not expected to be decided before next year. BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. Its got through to him that there is a chance to inflict real blows on the Tories. 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. The leaked documents also show that Guillermo Faustino Rodrguez Lpez-Calleja, brother of Gen. Luis Alberto Rodrguez Lpez-Calleja, was appointed in 1999 as a director of Pescatlan S.A., a company incorporated by Mossack Fonseca in the British Virgin Islands in 1991 with an initial capital of $50,000. Tainted fuel scandal: 22 people and entities to stand trial. Finally, Sonatrach rarely markets its fuel through intermediaries, and its fuel is sold through intermediaries well-known in the market. The publication was sponsored by Global Warming Policy Forum, a think tank founded by climate change denier Nigel Lawson. Its ownership was in the form of anonymous bearer shares the owners are whoever has those shares. BB Energy is one of the world's leading independent energy trading companies. Johnson even survived revelations that he would rather let the bodies pile high than push forward plans for a third lockdown. Last month he and. 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. 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. Starting in the early 1990s, Cubas Ministry of Foreign Trade, through the Compaa Panamericana S.A, used Mossack Fonseca to create a string of disguised companies in Panama, the Bahamas and the British Virgin Islands that bought and sold medicines, cigars and food. It is up to the criminal court to render a decision on the merits of the case. The U.S. Treasury Department declined to respond to a request for comment. A State Department spokeswoman said: We encourage companies, banks, and other institutions to refrain from providing services that support (Maduros) repressive practices.. This is why parliament cannot be relied on for fundamental climate action. Following a scandal over the delivery of tainted fuel to the state-owned lectricit du Liban, 22 defendants will appear before the criminal court that upheld the charges, which include accepting bribes and forgery. As Johnson announced Covid safety restrictions in March 2020, the government handed Randox a 133 million contract to manufacture Covid tests. At this stage, all defendants are innocent until found guilty, the lawyer said. 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. 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. At the time of renewal of the contracts related to supplying the Lebanese market in December 2018, ZR Energy, owned by Teddy and Rimon Rahma, took a share of it for 3.75 USD/metric ton for Sonatrach, the thing which Tarek Fawal insisted on denying in his interview to the Lebanese newspaper al-Akhbar. NAFT TRADING S.A. His register of interests says he currently earns 50,000 in the role, for about 11 days work a year. You may republish if you include an active link to the original. 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. 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. 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