Twice he was found in breach of the rules on declarations of benefits. Beefing up global enforcement around corruption The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual obligations to Rosneft. Wars, natural disasters and economic downturns have historically exposed children to the danger of trafficking and illegal adoption. 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. This means that the judiciary has ruled pro forma for now. The UK energy industry is facing a wave of bankruptcies amid a gas supply crunch that has sent electricity prices soaring, leaving suppliers vulnerable . As Lebanon endures worsening blackouts and fuel shortages, BBC Arabic investigates the disastrous state of the country's electricity sector. At times, however, the shield of anonymity over Cuban companies is not very effective. This was in addition to his 49,140 directors salary. During his time as energy minister, Hayes caused controversy by refusing to support any further expansion to onshore wind power, describing wind turbines as a terrible intrusion. A Reuters news agency report shows that the mother company, BB Energy, was still sending petroleum to Syria in 2011. He was one of the witnesses in the pretrial investigation. INTRODUCTION AND BACKGROUND 3.1. The U.S. Treasury Department declined to respond to a request for comment. 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. 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 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 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 CEEC was made up of local residents who are . 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. One Bloomberg report showed BB Energy had $10 billion in revenues in 2012. Copyright 2023 BB Energy. 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.. 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. Reliance said in its statement its purchases of Venezuelan oil from Rosneft do not lead to any payments to PDVSA. Corruption in the Energy Sector Corruption has been defined by Robert Klitgaard3 as "the abuse of office for personal gain". 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. This case points to the rampant corruption in the sector. 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. ZR Energy DMCC was not aware of any deficiency and relied on the representations of independent and internationally recognised third-party testers who certified that it was on specification when ZR Energy DMCC handled the cargo, a representative of ZR Energy DMCC said. We made a separate appeal to examine the contract with Sonatrach, but it was rejected. Hayes declined to comment. By. 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. Thats why the Tories manage to survive scandal after scandal. 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. 3. Some 22 of the biggest donors have gained a seat in the House of Lords in the past 11 years. 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. The company did not respond to a request for comment. 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$.. 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. Its stated aims are to challenge what it describes as the extremely damaging and harmful policies designed to mitigate climate change. 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. 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. The Cuban government used the Panama law firm involved in the Panama Papers to create a string of companies in offshore financial havens that allowed it to sidestep the U.S. embargo in its commercial operations. They include BB Energy Trading Ltd., BB Energy Management S.A., BB Energy Holdings NV., BB Energy B.V., BB Energy (Asia) Pte. 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. Yahya Mawloud, the operations manager of Middle East Power, the company operating the reciprocating engines installed in Zouk and Jiyyeh where the tainted fuel was destined for, had sounded the alarm about the poor quality of fuel in March 2020. In 2015, BB Energy won Ecuadoran contracts for more than three million barrels of naphtha, a petroleum distillate. One Bloomberg report showed BB Energy. 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. These trading experts are supported by a highly skilled team of operations, shipping and financepersonnel concentrated in Athens. 11:07 AM | 31 Jan, 2023 . Sabradell was the sole owner of Resimevis Ltd, a Mossack Fonseca client since 1995 dedicated to general commerce of medical products and equipment., Whats more, a 2015 email indicated that the sole purpose of Curtdale Investments Ltd., registered in the British Virgin Islands, was to hold the shares of Ardpoint Company Inc., which in turn owned Altabana S.L. Add your voice to our engaged subscriber community and be part of the change. Companies with Cuban capital or activities on the island. A letter sent to the Panamanian law firm in 1997 requested assistance organizing a fishing operation in the Turks and Caicos Islands with Cuban-flagged fishing boats.. Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region's best source of business information. Maduro has accused U.S. President Donald Trump of waging economic war against Venezuela. Its worth mentioning that influential Lebanese politicians, from both ends, support these companies and compete to impose them as fuel importers. 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. 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. This comes on top of his standard MP salary of 81,932. Formed in the 1960s, the group's activities span six continents. Testimonies collected by Mount Lebanon Investigative Judge Nicolas Mansour as part of the preliminary investigation pointed to suspected shady deals to forge lab tests for the fuels quality specifications, and to the involvement of employees at the labs as well as senior officials at the Energy Ministry, including the director-general of oil installations, Sarkis Hleiss. How the 61-year-old embargo is blocking Cubans from finding sponsors in the U.S. At the time of renewal of the contracts related to supplying the Lebanese market in December 2018, ZR Energy, owned by Teddy and Rimon Rahma, took a share of it for 3.75 USD/metric ton for Sonatrach, the thing which Tarek Fawal insisted on denying in his interview to the Lebanese newspaper al-Akhbar. These high paid speeches have addressed bank JP Morgan Chase and World 50 Incan exclusive club for senior executives. This evolutionary approach not only applies to our services, but also our people. 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. As working class people suffered mass deaths during the first phases of the Covid pandemic, Tory MPs and their mates filled their bank accounts. 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. The inspectorate registered many irregularities and estimated that this branchs deals with the parent company, Sonatrach, and the ministry of defence involved inflated bills. 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. 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. Johnson even survived revelations that he would rather let the bodies pile high than push forward plans for a third lockdown. It has since been renewed four times. Ltd., after several rounds of negotiations with a number of companies, the official added. Finally, Sonatrach rarely markets its fuel through intermediaries, and its fuel is sold through intermediaries well-known in the market. The news website Diario de Cuba has identified the director of foreign investments at the Foreign Trade Ministry, Dborah Rivas Saavedra, as another of the directors of Racuza, Miramar Investment Corporation Ltd and Caribbean Sugar Trader. Moreover, he denied any relationship with the ZR Energy trading company. 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. 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. At BB Energy, we are constantly evolving in order to meet new challenges, while developing our personnel to ensure a competitive edge. 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). This article was originally published in French. 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. Corruption policy, and our KYC and recruitment procedures to support our stance that we will not 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. Boris Johnson initially backed Paterson. 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. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. 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. But the stench of corruption was too much. It is assumed that companies will have more trust in documents certified in Switzerland than in Cuba.. 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. Tory whips threatened MPs with the loss of local funding unless they fell into line. 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. BB Energy Group has invested in Gasmeth Energy Global, a company focused on the responsibly extraction, processing, and distribution of methane gas from Rwandas Lake Kivu, one of the African Great Lakes. Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. 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. I think we have more confidence in what didnt happen than what did.. This is why parliament cannot be relied on for fundamental climate action. Edif. 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. Potential forms of corruption include bribery, theft, collusion and bid-rigging. The justification of the Sonatrach executives for adopting this type of contract (Fronting), which is renewed every three years, was the position of the intermediary in the Lebanese market, in addition to his taking all the risks related to the deals. The methods have frustrated Washington officials, who have in recent days questioned why sanctions have not had a more dramatic impact on Venezuelas finances. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. 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. Registered in: Panama Linked countries: Cuba Agent: Mossack Fonseca Search in: The Panama Papers data is current through 2015 read more Incorporated: 21-DEC-1984 Status: Active Connections: Linkurious and Neo4j Officer (3) Intermediary (1) Explore more from Panama Papers Mossack Fonseca The players However, the criminal court announced his innocence to the Algeria Judicial Council, which was concerned with the ongoing investigations in the second Sonatrach case. . 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. Please check individual images for licensing details. The publication was sponsored by Global Warming Policy Forum, a think tank founded by climate change denier Nigel Lawson. the Home Energy and Conservation Act (HECA) report in Appendix 1. Proceed to our online shop below to find out more about the features in each package. 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. Its official address is the same as that of BB Energy Trading: 140 Brompton Rd., London, SW3 1HY, United Kingdom. All of which can give our clients a competitive edge. He declined to provide further details. 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. But Cuba kept its links with some of the firms until very recently. Landlords are eligible for up 5,000 to cover two thirds of energy efficiency work. 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.. 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. When he was appointed, Hayes said he would advise the company on strategic plans in the context of changes in the worldwide energy market. According to the Dubai commercial register, ZR Energy DMCC is fully owned by Zaouk. The Liberal Democrats have ennobled five donors and the Labour Party, two. 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. The PDVSA source said the agreement had received the consent of all three parties and was being executed. 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. The Cuban military is estimated to control at least 60 percent of the islands economy. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. 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