This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. Boris Johnson initially backed Paterson. The internal PDVSA document said the sales would allow the partial completion of the financial scheme of advanced payments between PDVSA and Rosneft. John Hayes earns 50,000 per year as a strategic advisor for BB Energy, a major trader in crude oil and other petrochemical products. Public debt could rise to 289% of GDP by the end of the century if climate change is left unchecked, it said. 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. Fuel poverty and energy efficiency are inevitably linked, the less efficient a property is the costlier it is to heat. Add your voice to our engaged subscriber community and be part of the change. 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. Its stated aims are to challenge what it describes as the extremely damaging and harmful policies designed to mitigate climate change. 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. Independent MP Paula Yacoubian told LOGI that she believed Lebanese and Algerian mafias were involved in a corruption scheme tied to the fuel imports. The report claims peerages appeared to be a reward to thank wealthy donors for funding the Tory party. As Lebanon endures worsening blackouts and fuel shortages, BBC Arabic investigates the disastrous state of the country's electricity sector. Parliament is an unrepresentative, unaccountable front that covers for the real relations of power. 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. Sonatrach started supplying fuel to Lebanon in 2005. The procedures may take a long time, particularly because the number of defendants is high. 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. 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 tainted fuel delivered to the state-owned lectricit du Liban to supply its plants. 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. For over five decades we have been applying our depth of specialist experience to oil refining, logistics, storage and financing across the world. Beefing up global enforcement around corruption Last month he and. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. It held all the shares of Euro Foods Ltd., which was registered in the Bahamas and in turn represented ALIMPORT. BB Energy registered a company in Texas, BB Energy USA LLC., in 2014. The U.S. Treasury Department declined to respond to a request for comment. 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. This was set to be voted on in parliament. Such transactions do not lead to any consequent payment to PDVSA and do not violate U.S. sanctions or policies.. Patersons lobbying interests extended to sausage company Lynns Country Foods who paid him 12,000 for just 24 hours of work each year. The testimonies suggest that this system has been in place for years, resulting in Lebanon purchasing tainted fuel under a contract signed in 2005 with a subsidiary of Algerias Sonatrach Petroleum Corporation. 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. MP and former Tory energy minister John Hayes has been paid 150,000 by oil firm BB Energy over three years. These trading experts are supported by a highly skilled team of operations, shipping and financepersonnel concentrated in Athens. But the stench of corruption was too much. All individuals involved in this initiative - including co-founders, advisory board members, and experts - are serving in their personal capacity. 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 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. 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. 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. He has also compared climate activists to radical Islam. A scandal over the import of sub-standard quality fuel into Lebanon has seen some two-dozen people arrested, two fuel tankers seized and the offices of two major fuel traders raided and sealed off amid ongoing investigations. 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. Its official address is the same as that of BB Energy Trading: 140 Brompton Rd., London, SW3 1HY, United Kingdom. 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. 310. 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. 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. ZR Energy DMCC wrote on its website, ZR Energy DMCC and Mr. Zaouk are incidental victims of this sinister power struggle.. The Committee on Standards suggested Paterson should just be suspended from the Commons for 30 days. 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. 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. But campaigners say that questions will always be raised when MPs take second jobs. Public documents show for example that Vitol and Glencore have used intermediaries to funnel over US$31 million in bribes to corrupt Petrobras employees in the past so that they may win big contracts, along with acquiring other benefits. 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. At BB Energy, we are constantly evolving in order to meet new challenges, while developing our personnel to ensure a competitive edge. 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. This entire case rests on false assumptions backed up by entirely fabricated charges. BB Energy is part of the Electricity, Oil & Gas industry, and located in United Kingdom. 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. 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. Labour supports essentially the same system as now. Ltd., in February of this year to import 2,880,000 barrels of diesel fuel. Swiss lawyer Albert-Louis Dupont-Willemin appears as a director of several of the Cuban companies, among them Miramar Investment Corporation Ltd. and Pescatlan S.A. Private landlords and housing associations may apply for a grant on behalf of tenants who meet the eligibility criteria. 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. Campuses would have to give up testing resources and send them to Randox, they continued. This evolutionary approach not only applies to our services, but also our people. However, he expressed regret that the court system had not dug deeper. Such deals, however, may be authorized by the Treasury Departments Office of Foreign Assets Control or the Commerce Departments Bureau of Industry and Security. 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. By signing up, you agree to our Terms and conditions and privacy policy. 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. 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. Yacoubian said that high-level responsibility for the secret contract with Sonatrach and years of faulty fuel imports should be explored. Could Oil and Gas Inspire Change in Lebanon. After the return of Ould Kaddour to Sonatrach as its general manager in April 2017, it was not long before he imposed yet another intermediary besides Baha Bassatne. Whatever youre interested in, theres a free openDemocracy newsletter for you. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. The Cuban military is estimated to control at least 60 percent of the islands economy. A former Tory Party chairman told The Sunday Times, Once you pay your 3 million, you get your peerage.. There is no overlap of ownership or management between the two companies, a representative of ZR Energy DMCC told Le Commerce du Levant. Instead, investigations have revealed that at least two companies owned by Lebanese businessmen, BB Energy and ZR Energy, were bringing in the fuel. 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. 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 case is now with the Mount Lebanon Criminal Court, presided over by Mohamad Mortada. the Home Energy and Conservation Act (HECA) report in Appendix 1. The trial is a step in the right direction, he said. SECURITYIn Tunis, Mawlawi reassures Saudi counterpart on Lebanons continuing fight against drug trafficking, DIPLOMACY Belgium PM tells Iranian leader to free aid worker, PRIVACY Moroccan activists join WhatsApp suit over Pegasus spyware, Support L'Orient Today with a digital subscription starting $1. With challenges consistently facing the energy industry, we are constantly evolving, using advanced systems, procedures and processes to provide the best answers for our clients. 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. Yes! The Bulk Oil Storage and Transportation Company Limited (BOST) has absolved itself of any wrongdoing in the sale of 942,000 barrels of crude to Lebanon-based oil firm, BB Energy. By subscribing, you contribute to our financial and editorial independence. Hayes declared his role at the oil traders, and there is no evidence that rules have been broken. 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. The Web page of the Cuba-Lebanon Businessmens Council lists a Riad Bassatne as a member of its board of directors and describes him as president of BB Naft Trading and member of the board of directors of BB Energy., Wael Bassatne nevertheless insisted that there are no commercial or financial relations between BB Naft Trading S.A. and the BB Energy Group. He added that BB Nafts activities in Cuba included the sale of spare parts and agricultural machinery.. In 2015, BB Energy won Ecuadoran contracts for more than three million barrels of naphtha, a petroleum distillate. What's more, one of the Algerian state-owned energy firm's subsidiaries has found itself in the crosshairs of a Lebanese court. The Sunday Times newspaper has revealed a phone call on 9 April last year between Paterson and the Tory peer Lord Bethell, who was the minister responsible for handing out contracts. Venezuelas oil ministry, its information ministry - which handles media for the government - and PDVSA did not respond to questions. While former energy ministers who signed and renewed the contract have been questioned, they are not currently at the center of criminal investigations. . According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. Hayes declined to comment. That the committee review and comment on proposed and ongoing work to reduce fuel poverty. But he was forced to U-turn to try and end the wave of sleaze allegations. The Venezuelan companys shipping schedules showed that Reliance was loading a cargo from PDVSA as recently as April 20. This is why parliament cannot be relied on for fundamental climate action. 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. You can unsubscribe at any time*. 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. 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. Its got through to him that there is a chance to inflict real blows on the Tories. . He receives a salary of 25,000 a year. One of the directors of both Curtdale and Ardpoint starting in 2011 was Hernn Aguilar Parra, executive director of Grupo Empresarial de Tabaco de Cuba, known as TABACUBA, the governments tobacco monopoly. 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. They escaped after senior adviser Dominic Cummings showed there was one law for the rich and another for the rest. 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. It has since been renewed four times. . 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. They include Petrobras, Vitol, and Glencore Limited. However, Reuters was unable to independently verify if the agreement was implemented and remains in force. This case points to the rampant corruption in the sector. : . As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. Somebody did and bedlam ensued. Oil accounts for more than 90 percent of exports from the OPEC nation and the lions share of government revenues. 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. 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. In my eyes, we should not expect any verdict before 2022, the lawyer said. The CEEC was made up of local residents who are . I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. Miramar Playa. BB Energy's global network of middle distillates comprises of a wide range of products, most prominently jet, kerosene, diesel and heating oil. 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. 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. Guillermo Faustino Rodrguez Lpez-Calleja also appears as the representative of seven foreign companies registered in Cuba: Acemex Management Company Limited; Caroil Transport Marine Limited; Nautilus Shipping Overseas Corp.; Northsouth Maritime Company Limited; Gulf Lake Enterprises Ltd.; Acando Shipping Co. Ltd.; and Gilmar Project Finance Establishment. Photographer: Patrick T. Fallon/Bloomberg. 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.. 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.. 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. In February of this sinister power struggle prime minister Theresa May has made 842,526 giving paid speeches since 2020. As recently as April 20 poverty and Energy efficiency are inevitably linked, the lawyer.. 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