The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. 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. 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. 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. 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. And most trade union leaders went down the same path. 2022 LOrient-Le Jour All rights reserved. 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. Erni was most recently. 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. 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. Petroecuador contracted BB Energy (Asia) Pte. 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. Employees are required to act honestly and ethically when dealing with business counterparts. (An attorney for Hleiss, who has been accused of fleeing, has publicly denounced certain aspects of the legal procedures.). Ukraine's track record of massive corruption in energy is a sadly familiar story. However, the criminal court announced his innocence to the Algeria Judicial Council, which was concerned with the ongoing investigations in the second Sonatrach case. In particular, the expensive refurbishment of the Downing Street flat. They have addresses in the Miramar and Old Havana neighborhoods of the Cuban capital. Venezuelas oil ministry, its information ministry - which handles media for the government - and PDVSA did not respond to questions. Hayes declined to comment. 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. This means you can get up to 7,500 worth of measures installed for a maximum contribution of 2,500. Last month he and other Tory MPs called for fracking to resume. 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. 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. 3. The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual obligations to Rosneft. Potential forms of corruption include bribery, theft, collusion and bid-rigging. 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. Such transactions do not lead to any consequent payment to PDVSA and do not violate U.S. sanctions or policies.. LONDON, July 28 (Reuters) - Oil trading firm BB Energy has hired Jacques Erni as its new chief financial officer (CFO) starting Aug. 2 based in Dubai, the company said. This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. Read about our approach to external linking. BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. Rosneft would also make a profit by receiving an intermediation fee, the source and an internal PDVSA document said. Above all, the government remains ahead in the opinion polls even though it presides over one of the worst death rates in the world. Corruption in the Energy Sector Corruption has been defined by Robert Klitgaard3 as "the abuse of office for personal gain". This was set to be voted on in parliament. At this stage, all defendants are innocent until found guilty, the lawyer said. 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. The company opened an office in Cuba, he explained, because he has been a resident of Havana like his wife and three children, all of them born in Cuba and Cuban citizens. 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. 11:07 AM | 31 Jan, 2023 . It targets Tarek Fawal, who is in charge of clearing Sonatrach BVIs transactions related to receiving and unloading fuel shipments in Lebanon, and is accused of bribery, forgery and using counterfeit documents, as well as Zaouk. 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. 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. You can unsubscribe at any time*. By subscribing, you contribute to our financial and editorial independence. 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. The government was forced to go back on itself and announced there would be a vote on Patersons suspension. 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. However, Reuters was unable to independently verify if the agreement was implemented and remains in force. The allegations did not prevent the Energy Ministry from awarding it a spot fuel import contract in January to partially fill the gap created by the end of the contract with Sonatrach, after the latter did not renew the deal. This article is published under a Creative Commons Attribution-NonCommercial 4.0 International licence. 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. Digital Subscription $1,909 Premium Subscription $3,179 Best Value Then Paterson resigned, cancelling future parliamentary votes. He said, There is a will to hold those involved in the scandal accountable.. 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. Our Standards: The Thomson Reuters Trust Principles. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. 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. +44 2079380500 Company BB Energy Joey Nanaasare Current Workplace Joey Nanaasare has been working as a Business Development at BB Energy for 4 years. 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. It has since been renewed four times. This is why parliament cannot be relied on for fundamental climate action. It is assumed that companies will have more trust in documents certified in Switzerland than in Cuba.. 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. 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. A Reuters news agency report shows that the mother company, BB Energy, was still sending petroleum to Syria in 2011. Fuel poverty and energy efficiency are inevitably linked, the less efficient a property is the costlier it is to heat. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. 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. It is up to the criminal court to render a decision on the merits of the case. 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. NAFT TRADING S.A. Photographer: Patrick T. Fallon/Bloomberg. Beefing up global enforcement around corruption By Irina Slav - Sep 20, 2021, 9:30 AM CDT. 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. 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. 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. 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. 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. Tory MP Bill Wiggin gained 25,000 in bonuses and fees from a tax dodging wealth management firm in Bermuda. In an email, an official wrote that Matt Hancock, health secretary at the time, would send a letter to universities asking for loans of the various things we need. Corruption policy, and our KYC and recruitment procedures to support our stance that we will not By. 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. Owen Patersonthe MP who lobbied for private companies in the pandemic (Picture: Flickr/ NFU Pics). They also considered that the profit margin of the company (3.5 USD) was fair, as the company is not charged with any liabilities. Rosneft, which has heavily invested in Venezuela under President Vladimir Putin, did not respond to a request for a comment before Reuters published its story on Thursday. 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. 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. 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. Landlords are eligible for up 5,000 to cover two thirds of energy efficiency work. 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). 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. The Covid-19 public inquiry is a historic chance to find out what really happened. 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. According to documents, civil servants were trying to cover for the fact that Randox did not have the equipment it needed. Records of a meeting in Dubai in March of 2011 reflect a decision to significantly reduce the capital of BB Naft, held by BB Energy Holdings NV., from $8 million to $1.050 million. 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. 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. The latter said in a televised address that he discouraged Hleiss, one of his childhood friends, from going to the court. In 1963 they entered the oil sector in Lebanon and were primarily involved in local marketing of oil products and importation of Bitumen. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. 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. We hope to welcome you among our subscribers. Reuters could not independently verify that Rosneft ever made the advance payment to PDVSA. 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. One Bloomberg report showed BB Energy had $10 billion in revenues in 2012. 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. With its economy reeling from years of recession and a sharp decline in oil production, Venezuela was already struggling to finance imports and government spending before Washington imposed tough restrictions on PDVSA in January. When he was appointed, Hayes said he would advise the company on strategic plans in the context of changes in the worldwide energy market. Hayes declared his role at the oil. Yes! The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. Ltd. and Singapore-registered PowerCo International Pte. Its Havana address is Centro De Negocios Miramar, 5ta Ave. E/ 76 Y 78, Ofic. : . However, he expressed regret that the court system had not dug deeper. There is no overlap of ownership or management between the two companies, a representative of ZR Energy DMCC told Le Commerce du Levant. Few traders had room to receive physical barrels at Cushing. RECOMMENDATIONS 2.1. The biggest donor is Aquind, . 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 CEEC was made up of local residents who are . 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. 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. Labiofam S.A. bought all the shares of BioAsia Ltd. in 2009. 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 aftermath of the devastating earthquake in Turkey and Syria is no exception. The BVI company was dissolved in 2015. 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). BB Energy registered a company in Texas, BB Energy USA LLC., in 2014. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. 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. This case points to the rampant corruption in the sector. The U.S. Treasury Department declined to respond to a request for comment. The report claims peerages appeared to be a reward to thank wealthy donors for funding the Tory party. In response to Reuters story, Rosneft has denied it has acted as an intermediary for payments to PDVSA. The Swiss lawyer did not respond to El Nuevo Herald requests for comments on this story. Miramar Playa. 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. Billions of dollars have been siphoned off annually into political largesse and party war chests. 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.. MPs duly voted for it. Yacoubian said that high-level responsibility for the secret contract with Sonatrach and years of faulty fuel imports should be explored. Many of the Mossack Fonseca emails and documents show the relationship between BB Naft and the BB Energy group through the years. A State Department spokeswoman said: We encourage companies, banks, and other institutions to refrain from providing services that support (Maduros) repressive practices.. Baha Bassatne remained the sole Sonatrach broker until Abdelmoumen Ould Kaddour was appointed general manager of the company and imposed another intermediary. BB Energy places emphasis on environmental protection as well as health and safety, particularly regarding oil-related storage activities. Since 2018, John Hayes, who served as an energy minister in David Camerons government, has worked for BB Energy as a strategic adviser. 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. 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. Following the publication of Reuters report on Thursday, Reliance said in its statement that it had purchased Venezuelan crude oil from Rosneft long before the imposition of U.S. sanctions on PDVSA in January, as the Russian company received oil in return for a reduction in Venezuelas debt. The council set a target of reaching net zero carbon emissions for the borough by 2030. They escaped after senior adviser Dominic Cummings showed there was one law for the rich and another for the rest. In my eyes, we should not expect any verdict before 2022, the lawyer said. The methods have frustrated Washington officials, who have in recent days questioned why sanctions have not had a more dramatic impact on Venezuelas finances. Procs du fuel dfectueux : 22 personnes sur le banc des accuss. Khalid Mahmood (Labour) has committed up to 15 hours a month advising the Policy Exchange think tank on issues including extremism. 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. 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. 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. Whatever youre interested in, theres a free openDemocracy newsletter for you. 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 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. 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. Several shipments over at least the past three years were found to be non-compliant with quality standards. . Tory whips threatened MPs with the loss of local funding unless they fell into line. 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. (Credit: Philippe Hage Boutros/OLJ). 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. BB Energy is one of the world's leading independent energy trading companies. 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. This story was originally published June 7, 2016, 10:06 AM. Boris Johnson initially backed Paterson. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. 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. Stormy days are ahead for Algeria's state-owned oil company Sonatrach, currently rocked by two alleged corruption cases. This was in addition to his 49,140 directors salary. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. 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. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. I think we have more confidence in what didnt happen than what did.. Glencore has installed independent legal monitors to oversee its internal conduct as part of an agreement with the US government, marking a key milestone in the Swiss-based commodities house's . 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. If you have any queries about republishing please contact us. BB Energy is part of the Electricity, Oil & Gas industry, and located in United Kingdom. He has also compared climate activists to radical Islam. Pakistan ranks 140th in Transparency International's Corruption Index 2022 . Dominic Cummings, Boris Johnsons former senior adviser, says that the attempt to discredit the system that found then MP Owen Paterson guilty was really about the PM and his own lies. 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 branch he was managing, which was a subject for the report of the General Inspectorate of Finance, was dissolved. Lucia Kassai and . Reports obtained by LOGI show that tests of one batch of fuel showed it could contain chemical waste. The quality of the fuel was so bad that it caused material damage to turbines at both the Jiyeh and Zouk power plants. 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