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. 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. 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 BB Energy has trading hubs in the UAE, the U.K., the US, and Singapore. 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. On April 15, Wadih Akl, a lawyer affiliated with the Free Patriotic Movement, filed a complaint to the Mount Lebanon public prosecutors office in which he alleged that a fuel quality report for one of the tankers had been forged. 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 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. Corruption and sleaze hard-wired into Johnson and Tories, The Sun rises on Starmers appeal to media and bosses, Covid report finds deadly failings but lets Tories off the hook, 43,000 people given the wrong Covid test results, Rich get the government to do what it is paid for, New secret club of millionaire Conservative donors revealed, Scottish teachers strikes successand English regional strikes hit hard, Strikes hit Sri Lanka against new austerity drive, Teachers across the north of England walk out over pay, Secret cop unit should have disbanded, inquiry finds. 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 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. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. But so much of the criticism is phrased as a defence of parliamentary standards and the good name of British democracy. 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. Venezuelan state oil company PDVSA has asked at least two of its clients to make payments for Venezuelan oil via Russian state energy giant Rosneft, as it comes under pressure from U.S. sanctions, according to a PDVSA source and documents reviewed by Reuters. Few traders had room to receive physical barrels at Cushing. This comes on top of his standard MP salary of 81,932. The low-quality fuel in question was brought to Lebanon in March, under a secret contract signed with Algerian state company Sonatrach in 2005. (Credit: Philippe Hage Boutros/OLJ). BB Naft does not appear, however, among the subsidiaries listed on BB Energys Web site. Petroecuador contracted BB Energy (Asia) Pte. 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. Thats the case of Racuza S.A., incorporated in the British Virgin Islands. Much of the Mossack Fonseca correspondence on those companies involves updates of company registries and boards of directors, payment of fees and requests for letters of financial status required to open bank accounts or sign contracts. This raised many questions about the timing, and the reasons for neglecting it all these past years. Billions of dollars have been siphoned off annually into political largesse and party war chests. The government was forced to go back on itself and announced there would be a vote on Patersons suspension. the Home Energy and Conservation Act (HECA) report in Appendix 1. 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. 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. Its stated aims are to challenge what it describes as the extremely damaging and harmful policies designed to mitigate climate change. Fuel Oil 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. 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. 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. 2022 LOrient-Le Jour. Could Oil and Gas Inspire Change in Lebanon. The internal PDVSA document reviewed by Reuters showed the Venezuelan state oil firm asked Reliance to pay for oil sales under the long-term contract via Rosneft Trading SA, the Geneva-based trading unit of the Russian oil giant. Since 2018, John Hayes, who served as an energy minister in David Camerons government, has worked for BB Energy as a strategic adviser. However, he expressed regret that the court system had not dug deeper. BB Energy registered a company in Texas, BB Energy USA LLC., in 2014. They have not been called to account for the 37 billion spent on a failing test and trace system. 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. 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. Moreover, he denied any relationship with the ZR Energy trading company. Miramar Playa. Published by Larkham Printers & Publishers Ltd, Correspondence address: PO Box 74955, London E16 9EJ | company registered in England & Wales, number: 1335756, registered address: 71-75 Shelton Street London WC2H 9JQ. The Cuban military is estimated to control at least 60 percent of the islands economy. 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 U.S. Treasury Department declined to respond to a request for comment. 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 is an actual Pandoras box that goes far beyond the chapter currently in the hands of the judiciary, he said. They usually resort to those intermediaries when entering new markets that are unfamiliar to them, in order to benefit from their status inside this market, which they have done in several Asian countries before building direct relationships with the clients. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. 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 Venezuelan companys shipping schedules showed that Reliance was loading a cargo from PDVSA as recently as April 20. I understand Mr. Dupont-Willemin is a Swiss lawyer and I believe it is for the documents to be more transparent and trustworthy. This entire case rests on false assumptions backed up by entirely fabricated charges. Its got through to him that there is a chance to inflict real blows on the Tories. Yacoubian said that high-level responsibility for the secret contract with Sonatrach and years of faulty fuel imports should be explored. According to an undated internal PDVSA document, Indias Reliance Industries Ltd - PDVSAs largest cash-paying client was also asked by PDVSA to pay Rosneft directly in April for oil sales under a long-term supply contract with the Venezuelan company. 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. 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. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. BBE maintains . He also said Rahme was a friend but denied he was giving Rahme protection. 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 Cuban government also hid its control of offshore companies by creating still other limited liability companies whose sole objective was to appear in registries as owners of the offshore companies and disguise Cubas hand in them. Stormy days are ahead for Algeria's state-owned oil company Sonatrach, currently rocked by two alleged corruption cases. By April 28, Mount Lebanon Public Prosecutor Ghada Aoun said 21 people had been arrested in the case, mostly employees of the Oil Installations. 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. Reliance said in its statement its purchases of Venezuelan oil from Rosneft do not lead to any payments to PDVSA. Our Standards: The Thomson Reuters Trust Principles. The Covid-19 public inquiry is a historic chance to find out what really happened. Its Havana address is Centro De Negocios Miramar, 5ta Ave. E/ 76 Y 78, Ofic. BB Energy Trading Ltd. BB House 12-14 Ansdell Street London W8 5BN United Kingdom T: +44 20 7938 0500 F: +44 20 7938 0501 www.bbenergy.com Page 1 of 2 ANTI-SLAVERY STATEMENT . The PDVSA source said the company was proposing the new arrangements known as factoring to allow PDVSA clients to receive oil without making direct payments to the Venezuelan state oil company in the wake of Januarys sanctions. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. It has since been renewed four times. Their combined donation amounts to a total of 54 million. In the last seven years every Tory party treasurer has given at least 3 million and been offered a seat in the House of Lords. Santiago De Cuba. The decision to award ZR Energy DMCC a new contract, despite its alleged involvement in the tainted fuel case, was explained by the presumption of innocence a principle applicable as long as no [verdict] was issued, an official source said. 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. However, the dates for the first court hearings, which will be open to the public, have yet to be announced. 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. As ordinary people lost their jobs and relied on furlough, many MPs increased their income from the start of the pandemic. BB Energy boasted of making record profits in 2020 in its annual report, writing that it had successfully captured market volatility caused by the pandemic. Starmer even chose last week to announce that Labour was no longer in favour of abolishing the House of Lords. This story was originally published June 7, 2016, 10:06 AM. 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. 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. Panamericanas former director, Jos L. Fernndez de Cosso Domnguez, is listed in the leaked documents as a director of Miramar Investment Corporation Ltd, Euro Foods Ltd, Racuza S.A, Caribbean Sugar Trader, Mercaria Trading S.A. and Sabradell S.A. Fernndez more recently served as Cubas ambassador to Japan and economic attach at the embassy in Paris. 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. 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. Landlords are eligible for up 5,000 to cover two thirds of energy efficiency work. The company did not respond to a request for comment. Several shipments over at least the past three years were found to be non-compliant with quality standards. Maduro has accused U.S. President Donald Trump of waging economic war against Venezuela. But Cuba kept its links with some of the firms until very recently. The documents reveal previously unknown details about the Cuban governments economic maneuvers abroad and the foreign companies that do business with Havana as some of the firms tried to hide Cubas hand in business deals to skirt the U.S. embargo. Whatever youre interested in, theres a free openDemocracy newsletter for you. It is up to the criminal court to render a decision on the merits of the case. The arrangement would also allow the cash-strapped Venezuelan state company to receive faster payment, sometimes avoiding the usual 30-to-90 day timeframe for completing oil transactions. He declined to provide further details. 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. 3. 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. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. All rights reserved. Procs du fuel dfectueux : 22 personnes sur le banc des accuss. Starmer last week called on Johnson to answer, apologise and act over sleaze allegations. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. BB Energy (the Group) is pleased to announce the launch of its Improved Cookstove (ICS) Project in Rwanda. Beefing up global enforcement around corruption 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. Randox later received a 347 million contract. 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. 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. 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. BB Energy is one of the world's leading independent energy trading companies. 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.. By subscribing, you contribute to our financial and editorial independence. 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. Subscribe to our newsletters and offers. Security agencies have warned against gangs attempting to kidnap unaccompanied children. The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual obligations to Rosneft. 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