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. 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. The women pushing boundaries in Pakistans rural milk marketIn rural Pakistan women milk cows, but male relatives take the milk to male-run collection centres. BB Energy bought oil on the day prices turned negative. The judge is the one who has the power to add to or drop the charges.. The contents of the contract were never known to the Lebanese people, despite costing the treasury billions of dollars. However, the criminal court announced his innocence to the Algeria Judicial Council, which was concerned with the ongoing investigations in the second Sonatrach case. These trading experts are supported by a highly skilled team of operations, shipping and financepersonnel concentrated in Athens. 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. This story was originally published June 7, 2016, 10:06 AM. Tainted fuel scandal: 22 people and entities to stand trial. 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 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. However, the dates for the first court hearings, which will be open to the public, have yet to be announced. All rights reserved. Last month he and. Employees are required to act honestly and ethically when dealing with business counterparts. 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. When MPs have lucrative side-jobs for private firms it raises questions over whose interests they are serving. The Cuban Embassy in Washington did not answer a comment request for this story. 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. They include Petrobras, Vitol, and Glencore Limited. The CEEC was set up after H&F Council declared a climate and ecological emergency in July 2019. Some 22 of the biggest donors have gained a seat in the House of Lords in the past 11 years. MPs duly voted for it. BB Energy, a leading global independent energy trading company, is pleased to announce that it has successfully refinanced and expanded a$580 millionsenior secured borrowing base credit facility (the Facility). The inspectorate registered many irregularities and estimated that this branchs deals with the parent company, Sonatrach, and the ministry of defence involved inflated bills. Regardless of whether payments flowed directly to PDVSA or remained in Russia to pay down debt, the proposed approach appears to present no violation of sanctions by any of the entities because no U.S. citizens, currency, companies or financial institutions seem to be involved, according to four sanctions experts consulted by Reuters. Entity: B.B. Other leaked Mossack Fonseca documents show the interwoven complex of offshore companies created by the Cuban government to import and export goods and invest funds abroad with the assistance of the Panamanian law firm. 1) BB Energy Holdings N.V., Curaao Our holding company involved in global Oil & Gas trading activities and owns the below subsidiaries: BB Energy Trading Ltd., London Europe and the Mediterranean region BB Energy (Gulf) DMCC, Dubai Middle East, Arabian Gulf, Red Sea, East and South Africa, Pakistan, Western side of India and the CIS Parliament is an unrepresentative, unaccountable front that covers for the real relations of power. This was set to be voted on in parliament. The BVI company was dissolved in 2015. The case has revealed the need to make all state contracts in the energy sector publicly available, including a 20-year contract signed in 2018 with Russian company Rosneft to rehabilitate and manage the Tripoli Oil Installations. Socialist Worker (unless otherwise stated). Fuel Oil He added that in 1996 there was agreement on a triangular Russia/Cuba/Naft Trading S.A. deal to deliver Russian fuel to other markets for a number of tens of millions of US$.. Whatever youre interested in, theres a free openDemocracy newsletter for you. : . There seems to be a tendency to prosecute managers and employees of the Lebanese Al-Zahrani Electricity Company as accomplices and facilitators of these operations; and while ZR Energys owners are being interrogated, the investigations will expand to reach the date of signing the contract with the Algerian company in 2005. and Promotora de Cigarros S.L., two companies registered in Spain and involved in the sale of Cuban cigars. 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.. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. She has formally requested a parliamentary investigation committee be formed to probe the matter. 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. He has also compared climate activists to radical Islam. 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 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. We made a separate appeal to examine the contract with Sonatrach, but it was rejected. Lucia Kassai and . Pakistan ranks 140th in Transparency International's Corruption Index 2022 . A lawyer for Panamericana, Katiuska Peado Moreno, and a former commercial attach at the Cuban embassy in London, Alejandro Gutirrez Madrigal, are listed as the beneficiaries of shares in Miramar Investment Corporation Ltd. worth $50,000. One lawyer for BB Naft, Noureddine Kabalan, asked Mossack Fonseca in April of 2008 to create a power of attorney so that the empowered person can be authorized to sign on behalf of the company in Syria and Iraq for specific transactions.. Thats why the Tories manage to survive scandal after scandal. Baha Bassatne remained the sole Sonatrach broker until Abdelmoumen Ould Kaddour was appointed general manager of the company and imposed another intermediary. 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. Corruption policy, and our KYC and recruitment procedures to support our stance that we will not 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. . Miqati Says Cyprus Still Waiting for Lebanon's Ratification of Maritime Border Agreement. He said, There is a will to hold those involved in the scandal accountable.. 2. He declined to provide further details. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. 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. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. Miramar Playa. 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. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. The Public Prosecution Office began investigating them to the backdrop of the ongoing debate, in Lebanon, over spoiled fuel bought by the electricity company from the Algerian oil company, Sonatrach, which ranked thirteenth in the ranking of oil companies in the world. The new certificates, for 800 shares, were to be issued in the names of 10 members of the Bassatne family, including 160 shares for Riad Bassatne. Since the Tories takeover of parliament in 2010, nine of the partys former treasurerswho donated huge amountswere given a position as a Lord. 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. Aguilar also has served as a deputy in the legislative National Assembly. Above all, the government remains ahead in the opinion polls even though it presides over one of the worst death rates in the world. Multimillionaire donors seem almost guaranteed a peerage, according to a report by the Open Democracy thinktank and the Times newspaper. MP and former Tory energy minister John Hayes has been paid 150,000 by oil firm BB Energy over three years. Yes! 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. And most trade union leaders went down the same path. The Swiss lawyer did not respond to El Nuevo Herald requests for comments on this story. He was one of the witnesses in the pretrial investigation. Translation by Joelle El Khoury. 11:07 AM | 31 Jan, 2023 . The UK energy industry is facing a wave of bankruptcies amid a gas supply crunch that has sent electricity prices soaring, leaving suppliers vulnerable . (Credit: Philippe Hage Boutros/OLJ). The procedures may take a long time, particularly because the number of defendants is high. 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. 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. BB Energy has trading hubs in the UAE, the U.K., the US, and Singapore. In 1963 they entered the oil sector in Lebanon and were primarily involved in local marketing of oil products and importation of Bitumen. In 2015, BB Energy won Ecuadoran contracts for more than three million barrels of naphtha, a petroleum distillate. All of Britain's Big Six energy suppliers, EDF Energy , Innogy's Npower, E.ON, Scottish Power, SSE and Centrica's British Gas, have submitted bids in a tender run by regulator Ofgem to . 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. At BB Energy, we are constantly evolving in order to meet new challenges, while developing our personnel to ensure a competitive edge. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. The case is now with the Mount Lebanon Criminal Court, presided over by Mohamad Mortada. This comes on top of his standard MP salary of 81,932. MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. I understand Mr. Dupont-Willemin is a Swiss lawyer and I believe it is for the documents to be more transparent and trustworthy. 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