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. Fuel Oil The Cuban military is estimated to control at least 60 percent of the islands economy. Sonatrach started supplying fuel to Lebanon in 2005. 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.. Santiago De Cuba. All rights reserved. Could Oil and Gas Inspire Change in Lebanon. BB Energy is one of the world's leading independent energy trading companies. Add your voice to our engaged subscriber community and be part of the change. ZR Group Holding SAL and ZR Energy DMCC are two separate corporate entities. 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. BB Energy is one of the world's leading independent energy trading companies. +44 2079380500 Company BB Energy Joey Nanaasare Current Workplace Joey Nanaasare has been working as a Business Development at BB Energy for 4 years. You may republish if you include an active link to the original. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. The branch he was managing, which was a subject for the report of the General Inspectorate of Finance, was dissolved. Judge Aoun has charged 12 people in the case, including Electricite du Liban director-general Kamal Hayek for negligence of duty, and Hleiss and director of oil at the energy ministry Aurore Feghali for bribes and negligence of duty. The practice has been banned since 2019, after a scientific report found it was not possible to accurately predict the probability of earthquakes linked to drilling. Randox later received a 347 million contract. In recent years, the company has become increasingly active in LPG and LNG. Shuja Malik of BBC Urdu visited a village where women have been hired to work in the milk centre. 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. This article was originally published in French. By April 28, Mount Lebanon Public Prosecutor Ghada Aoun said 21 people had been arrested in the case, mostly employees of the Oil Installations. 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. In 1963 they entered the oil sector in Lebanon and were primarily involved in local marketing of oil products and importation of Bitumen. 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. 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 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. 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. 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. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. 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 . At times, however, the shield of anonymity over Cuban companies is not very effective. Starmer even chose last week to announce that Labour was no longer in favour of abolishing the House of Lords. Several shipments over at least the past three years were found to be non-compliant with quality standards. The Bassatne family incorporated BB Naft Trading S.A. in Panama, with Jrgen Mossack as a director. One of the markets may have been Ecuador. The difference: The name of the BVI firm has no Spanish accents, the Cuban companys name does. This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. Such deals, however, may be authorized by the Treasury Departments Office of Foreign Assets Control or the Commerce Departments Bureau of Industry and Security. The company did not respond to a request for comment. Successive . 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. 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. A zero tolerance approach to any deviance from such requirement is adopted throughout the group. MPs should take all necessary steps to avoid the perception or reality they are using their public position for private gain.. These high paid speeches have addressed bank JP Morgan Chase and World 50 Incan exclusive club for senior executives. It held all the shares of Euro Foods Ltd., which was registered in the Bahamas and in turn represented ALIMPORT. BB Energy, which has a strong presence in Arab and African markets (see here ), has been embroiled in a legal spat in recent months with Saudi-Ethiopian businessman Mohammed Hussein Al Amoudi. 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. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. Ukraine's track record of massive corruption in energy is a sadly familiar story. Proceed to our online shop below to find out more about the features in each package. Thats the case of Racuza S.A., incorporated in the British Virgin Islands. 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. Both Mr. Rahmeh and ZR Group have been subjected to a politically motivated witch-hunt underpinned by a campaign to distract from Lebanons political failings. 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 . John Hayes earns 50,000 per year as a strategic advisor for BB Energy, a major trader in crude oil and other petrochemical products. She has formally requested a parliamentary investigation committee be formed to probe the matter. 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. Landlords are eligible for up 5,000 to cover two thirds of energy efficiency work. 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. Translation by Joelle El Khoury. Last month he and. I think we have more confidence in what didnt happen than what did.. 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 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. But Cuba kept its links with some of the firms until very recently. 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.. Then Paterson resigned, cancelling future parliamentary votes. 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. They have not been called to account for the 37 billion spent on a failing test and trace system. 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. See here for a complete list of exchanges and delays. Entity: B.B. Its got through to him that there is a chance to inflict real blows on the Tories. . Real-time updates and all local stories you want right in the palm of your hand. Petroecuador contracted BB Energy (Asia) Pte. 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. The Panama Papers show Dupont-Willemin as a director of a total of 49 offshore companies in the British Virgin Islands, five in Panama and two each in the Bahamas and Seychelles islands. Parliament is an unrepresentative, unaccountable front that covers for the real relations of power. While former energy ministers who signed and renewed the contract have been questioned, they are not currently at the center of criminal investigations. BB Energy is part of the Electricity, Oil & Gas industry, and located in United Kingdom. All rights reserved. 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. BB Naft does not appear, however, among the subsidiaries listed on BB Energys Web site. Oil accounts for more than 90 percent of exports from the OPEC nation and the lions share of government revenues. Billions of dollars have been siphoned off annually into political largesse and party war chests. 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. 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. In response to Reuters story, Rosneft has denied it has acted as an intermediary for payments to PDVSA. 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. Teddy Rahmeh and his company, ZR Group SAL Holding, are not involved in importing fuel oil to Lebanon, the representative of ZR Group Holding SAL said, denouncing the charges as a political conspiracy. Its ownership was in the form of anonymous bearer shares the owners are whoever has those shares. 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. 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. They have addresses in the Miramar and Old Havana neighborhoods of the Cuban capital. Reuters could not independently verify that Rosneft ever made the advance payment to PDVSA. 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. Mossack Fonseca was listed as the registered agent for most of the companies. Hayes declared his role at the 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$.. 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. It is up to the criminal court to render a decision on the merits of the case. Its official address is the same as that of BB Energy Trading: 140 Brompton Rd., London, SW3 1HY, United Kingdom. The governments own Climate Change Committee warned in March that there is little, if any, room for increased fossil gas consumption if the goals of the 2015 Paris Climate Agreement are to be met. 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. Labour supports essentially the same system as now. By signing up, you agree to our Terms and conditions and privacy policy. On top of Patersons 81,932 salary, he took home 8,333 a month to lobby on behalf ofhealthcare company Randox Laboratories. It is worth noting here that Daraj previously investigated suspicious money transactions through Lebanese banks, for Nassim Ould Kaddour, the son of Abdelmoumen Ould Kaddour, based on Panama Papers (First National Bank and Socit gnrale de banque au Liban). 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. Maduro has accused U.S. President Donald Trump of waging economic war against Venezuela. Moreover, he denied any relationship with the ZR Energy trading company. Since 2018, John Hayes, who served as an energy minister in David Camerons government, has worked for BB Energy as a strategic adviser. 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