BB Energy is one of the world's leading independent energy trading companies. 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. Miqati Says Cyprus Still Waiting for Lebanon's Ratification of Maritime Border Agreement. Many of the Mossack Fonseca emails and documents show the relationship between BB Naft and the BB Energy group through the years. All quotes delayed a minimum of 15 minutes. Instructions for the change were sent by Iulia Ispas, legal adviser to BB Energy Trading Ltd. Emails exchanged by Mossack Fonseca lawyers also point to company operations in Syria and Iraq. But campaigners say that questions will always be raised when MPs take second jobs. However, Reuters was unable to independently verify if the agreement was implemented and remains in force. 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). 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. Baha Bassatne remained the sole Sonatrach broker until Abdelmoumen Ould Kaddour was appointed general manager of the company and imposed another intermediary. 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 Liberal Democrats have ennobled five donors and the Labour Party, two. 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. 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. 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. Please check individual images for licensing details. BB Naft does not appear, however, among the subsidiaries listed on BB Energys Web site. The government was forced to go back on itself and announced there would be a vote on Patersons suspension. Proceed to our online shop below to find out more about the features in each package. 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. BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. 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. Parliament is an unrepresentative, unaccountable front that covers for the real relations of power. All rights reserved. Somebody did and bedlam ensued. Sonatrach started supplying fuel to Lebanon in 2005. Corruption policy, and our KYC and recruitment procedures to support our stance that we will not Peter Quinter, an expert on U.S. embargo laws and former head of the International Law section of the Florida Bar Association, said the U.S. trade embargo on Cuba generally bars a company with a U.S. presence from doing business with Cuba directly or indirectly through an offshore branch, for example. 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. Hayes declared his role at the oil. Last month he and. In an effort to save him even this punishment, Johnson instructed Tory MP Andrea Leadsom to put forward an amendment and set up a committee to prevent his suspension. Their statement mentioned that it was all about a dispute with their client in Lebanon, the Ministry of Energy and Water, around a defect in a shipment that was directed to a company under its supervision, which is EDL, a Lebanese power company. The statement added that the London branch is trying to sort out the problem with the client through continuous discussion, and that it will soon be solved, as the relationship between Sonatrach and the Lebanese Ministry of Energy and Water is excellent. 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. Tell Grant Shapps to stop giving away Emissions Trading Scheme permits, Former energy minister John Hayes, who has likened climate protesters to Radical Islam, has received a 50,000 salary from BB Energy since 2018. 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. Its stated aims are to challenge what it describes as the extremely damaging and harmful policies designed to mitigate climate change. Ltd. and Singapore-registered PowerCo International Pte. 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. Boris Johnson initially backed Paterson. The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. Shuja Malik of BBC Urdu visited a village where women have been hired to work in the milk centre. 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. This entire case rests on false assumptions backed up by entirely fabricated charges. You may republish if you include an active link to the original. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. Since the Tories takeover of parliament in 2010, nine of the partys former treasurerswho donated huge amountswere given a position as a Lord. He also said Rahme was a friend but denied he was giving Rahme protection. Randox later received a 347 million contract. 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. By signing up, you agree to our Terms and conditions and privacy policy. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. At BB Energy, we are constantly evolving in order to meet new challenges, while developing our personnel to ensure a competitive edge. Its worth mentioning that influential Lebanese politicians, from both ends, support these companies and compete to impose them as fuel importers. Like the extractives sector, the renewables industry requires substantial capital investments, which can come with substantial risks of . The legal proceeding is not expected to be decided before next year. The Cuban Embassy in Washington did not answer a comment request for this story. Rosneft would also make a profit by receiving an intermediation fee, the source and an internal PDVSA document said. A former Tory Party chairman told The Sunday Times, Once you pay your 3 million, you get your peerage.. Labour supports essentially the same system as now. These trading experts are supported by a highly skilled team of operations, shipping and financepersonnel concentrated in Athens. 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. He was one of the witnesses in the pretrial investigation. Responding to Reuters story, Reliance strongly denied making any payments via third parties to PDVSA. 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. Surprisingly, the contract, long presented as a state-to-state agreement, was in fact signed with Sonatrachs offshore subsidiary, which is registered in the British Virgin Islands. The U.S. Treasury Department declined to respond to a request for comment. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. : . This evolutionary approach not only applies to our services, but also our people. The company did not respond to a request for comment. 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 PDVSA source said the agreement had received the consent of all three parties and was being executed. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. Subscribe to our newsletters and offers. BB Energy has trading hubs in the UAE, the U.K., the US, and Singapore. 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. Reliance has said that in September 2012 it signed a 15-year deal to purchase up to 400,000 barrels a day of heavy crude from PDVSA. His register of interests says he currently earns 50,000 in the role, for about 11 days work a year. 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. 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. Starmer even chose last week to announce that Labour was no longer in favour of abolishing the House of Lords. 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. Hayes, who was once described as the champion of the motorist during his time as a transport minister, also recently contributed to a report critical of the government's net-zero policies. 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. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. 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. 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. In recent years, the company has become increasingly active in LPG and LNG. 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. Formed in the 1960s, the group's activities span six continents. We made a separate appeal to examine the contract with Sonatrach, but it was rejected. 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. 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. They include Petrobras, Vitol, and Glencore Limited. And the case of Sabradell S.A., headed by Panamericana director Jos L. Fernndez de Cosso Domnguez for a time and dissolved in 2008. Socialist Worker (unless otherwise stated). 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. Laurence Robertson . 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