The Mossack Fonseca documents nevertheless refer to Pescatlan as a Cuban company and do not identify the true owners of the company. 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. It is up to the criminal court to render a decision on the merits of the case. the Home Energy and Conservation Act (HECA) report in Appendix 1. 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against the Lebanese company ZR Group Holding SAL and issued an arrest warrant for its owner, Teddy Rahmeh, which was withdrawn after bail was posted. 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. INTRODUCTION AND BACKGROUND 3.1. Beefing up global enforcement around corruption Hes right, but the cruelty is the treatment of ordinary people and the contempt politicians have for the rest of us. In 1963 they entered the oil sector in Lebanon and were primarily involved in local marketing of oil products and importation of Bitumen. The Committee on Standards suggested Paterson should just be suspended from the Commons for 30 days. 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. 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. Companies registered abroad are legally not Cuban, according to the source, and could be used for dollar-denominated transactions. 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. Please enable JavaScript in your browser to submit the form, - | 01.03.2023. 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. This comes on top of his standard MP salary of 81,932. Our Standards: The Thomson Reuters Trust Principles. The Energy Ministry responded to criticism by explaining that resorting to large oil refineries made it possible to limit the commissions charged by intermediaries, and therefore limited the risk. BB Energy Group Holding Ltd. (DIFC) is managed by a Board of Directors comprising seven board members with five executive members and two non-executive members. 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. 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. Instead, investigations have revealed that at least two companies owned by Lebanese businessmen, BB Energy and ZR Energy, were bringing in the fuel. Behind the scandalous lies and appalling plunder by the political elite and their business backers lies their drive to profit from pandemic suffering. Sonatrach signed the contract while Ali ibn-Buzeid was the manager of the London branch, and Muhammad Shawki Rahhal was the marketing manager, who had been accused in the first Sonatrach lawsuit. 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 U.S. Treasury Department declined to respond to a request for comment. The judiciarys opening of this file occured to the beat of a political debate that the judiciary does not seem to be far from, especially as opening such a file occurred according to a report presented by the leader in the the Aounist party, lawyer Wadih Akl, and investigations were conducted by Judge Ghada Aoun. The company did not respond to a request for comment. Its Havana address is Centro De Negocios Miramar, 5ta Ave. E/ 76 Y 78, Ofic. 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 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. 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. That the committee review and comment on proposed and ongoing work to reduce fuel poverty. 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. I think we have more confidence in what didnt happen than what did.. Our operations in these products are global and we use our storage and logistics for blending and optimising timely deliveries to fulfil customer requirements. Translation by Joelle El Khoury. The case dates back to March 2020, when EDL reported to the judiciary that it had received a shipment of poor-quality fuel, even though the results of tests conducted at the port of exit and upon the fuels arrival at the Beirut port showed the opposite. For its part, ZR Energy DMCC denied any involvement in illegal practices. October 19, 2018, 15:03 IST DUBAI: Trading company BB Energy has raised a $245 million revolving credit facility to refinance existing credit and for general corporate purposes, it said on Thursday. By signing up, you agree to our Terms and conditions and privacy policy. Miqati Says Cyprus Still Waiting for Lebanon's Ratification of Maritime Border Agreement. 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. 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.. If you have any queries about republishing please contact us. ZR Energy DMCC wrote on its website, ZR Energy DMCC and Mr. Zaouk are incidental victims of this sinister power struggle.. Our role was to advise the council on how to reduce carbon emissions and make space for nature across the borough. BB Naft shareholder Wael Bassatne told El Nuevo Herald that his company did not violate the U.S. embargo because it is not registered and does no business in the United States. He said, There is a will to hold those involved in the scandal accountable.. 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. This article was published in LOGI's May 2020 newsletter in partnership with Kulluna Irada. His register of interests says he currently earns 50,000 in the role, for about 11 days work a year. The London branch of the Algerian Sonatrach published a statement through the Algerian News Agency, saying that whoever was presented by the media as an employee of Sonatrach is not, in fact, an employee in the company, but an independent marine agent who monitors shipments in Lebanon for the benefit of the companys branch in London. The Algerian company tried to imply that the issue is limited to the technical specifications of the 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. 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. Its got through to him that there is a chance to inflict real blows on the Tories. Randox later received a 347 million contract. 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. I feel they are trying to bury this issue in the courts by stopping at mid-level employees, Yacoubian said. There have been unconfirmed reports that Luis Alberto Rodriguez Lopez-Calleja divorced Deborah Castro Espin in recent years, but he remains in charge of Grupo de Administracin Empresarial S.A., (GAESA) and the governments signature port of Mariel development project. 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. Offer sent. This was on top of his standard MP salary of nearly 82,000. State-run Bangladesh Petroleum Corp., or BPC, has awarded the building contract to a consortium of Japan's Marubeni Corp., Vitol Asia Pte. 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. Petroecuador contracted BB Energy (Asia) Pte. Plus, it is still not taking any of the precautions necessary today. 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. You may republish if you include an active link to the original. The leaked documents confirm the existence of these types of foreign companies, with at least partial Cuban government capital. NAFT TRADING S.A. Thats why the Tories manage to survive scandal after scandal. The charges pressed at the end of the investigation consist of a foundation for a trial. Former prime minister Theresa May has made 842,526 giving paid speeches since March 2020. The document also said that the payment by Reliance to Rosneft would also allow PDVSA to meet unspecified contractual obligations to Rosneft. Those front companies, the source added, also help Cuba carry out foreign trade transactions in U.S. dollars, forbidden by the embargo until President Barack Obama lifted the restriction earlier this year. This means you can get up to 7,500 worth of measures installed for a maximum contribution of 2,500. 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 . Tainted fuel scandal: 22 people and entities to stand trial. She has formally requested a parliamentary investigation committee be formed to probe the matter. Khalid Mahmood (Labour) has committed up to 15 hours a month advising the Policy Exchange think tank on issues including extremism. 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. Glencore has installed independent legal monitors to oversee its internal conduct as part of an agreement with the US government, marking a key milestone in the Swiss-based commodities house's . Shuja Malik of BBC Urdu visited a village where women have been hired to work in the milk centre. Reports obtained by LOGI show that tests of one batch of fuel showed it could contain chemical waste. The quality of the fuel was so bad that it caused material damage to turbines at both the Jiyeh and Zouk power plants. We are committed to acting as a model corporate citizen at all times and benefitting the local communities in which we operate. The relationship between the BB Energy Group and Petroecuador appears to have lasted until recent days. 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). 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. Subscribe to our newsletters and offers. We made a separate appeal to examine the contract with Sonatrach, but it was rejected. 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