Trafigura Corruption

The problems with agents extend beyond the commodity trading industry. RIO de Janeiro (Reuters) – Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore (GLEN. We develop new outlets for condensates, using Trafigura's diverse customer base that includes refineries, splitters and petrochemical facilities. 3m to officials at the Brazilian state oil company Petrobras, in return. So far, ten people from Trafigura and Ivorian Tommy are in custody including 3 customs officials and a high ranking official at the Department of Transport. Anti-Corruption Resources. Follow us on Social Media. The Trafigura corruption matter has been running from 2006, when the then Jamaica Labour Party (JLP) leader Bruce Golding broke the story in dramatic fashion. If the company is known for anything, it was an incident a dozen years ago. MPs have the same right as anyone else to know the nature of any charges against them and to know that they will be subject to a fair process in dealing with these. Cesar has 8 jobs listed on their profile. Malta police last week arrested and started prosecuting former Energy authority Chairman Tancred Tabone and his adviser Frank Sammut accused of bribery, corruption and money laundering in the procument of oil. The Office of the Attorney General in Switzerland began a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. Brazilian federal prosecutors on Friday demanded. SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. corruption probe Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. “Trafigura is a leading player in global shipping,” said Chin Hwee Tan during today’s ceremony. Public furore over the scandal led to the Prime Minister and his government being forced to resign amid public belief that corruption was to blame for the dumping. LONDON/NEW YORK, Aug 12 (Reuters) - Global commodities trader Trafigura has started shipments of Permian basin crude to the Corpus Christi oil hub in Texas via the new 670,000-barrel-per-day (bpd. GoJ Procurement Procedures. LNG sales - short, mid, long-term sales, FOB or DAT basis. V, out of jurisdiction, and five. Trafigura is a leading international condensates trader, bringing a wide variety of grades to market in all parts of the world. Thousands of people due payouts over the dumping of toxic waste by oil-trading group Trafigura in Ivory Coast won their English High Court claim against their lawyers on Thursday, having never received their money. The web site of the National Workers Union in Trinidad and Tobago. A Trafigura spokesperson told UPI company officials "do not comment on legal matters. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. com, the company indi. Commodities trader Trafigura [TRAFGF. Nyrstar is an integrated mining and metals business, with established positions in zinc and lead. Trafigura is currently under investigation by the Dutch authorities over an alleged bribe of. But when MaltaToday broke the story that Trafigura had paid a bribe to Frank Sammut, the chief executive of Enemalta subsidiary Mediterranean Offshore Bunkering Corporation (MOBC) in 2003, police investigations were kick-started into a complex web of bribery and corruption. Here, in fact, state and state-corporate crime facilitates corruption within the civil society sphere through a process referred to in the book as the ‘commodification of victimhood’ and, as a result, ensures that impunity is virtually guaranteed for the corporation and the Ivorian government. “There are indications that the crimes were being practiced to date, as the investigation covers two other Petrobras employees who were still working at the state oil. Here in Jamaica, the 2006 Trafigura scandal, involving a Dutch company that lifted Nigerian oil to Jamaica, continues to haunt five members of the People's National Party, who have taken their appeal to the UK Privy Council in a last-ditch attempt to. Hosted by the Government of France on 18-19 June 2019 in Paris, the 8th EITI Global Conference gathered more than 1000 stakeholders from around the globe to take stock of progress and priorities in extractives transparency. Simpson Thacher represented Trafigura Ventures V B. Trafigura's founder, Claude Dauphin, who passed away in 2015, had made the continent one of his favourite hunting grounds after leaving Marc Rich's firm in 1992. Tuesday 25 June. Trafigura referred Reuters to a statement the company issued after last week's arrests, which said the company had zero- tolerance policies for bribery and corruption. A new report by campaign group Global Witness has detailed the alleged involvement of bunker companies Cockett Marine and Ocean Connect Marine (OCM) as part of the bunker industry's role in Brazil's ongoing "Car Wash" corruption and money laundering scandal. V, out of jurisdiction, and five. It was not immediately clear whether these two tankers were the last of the already-concluded trades, or how many - if any - product tankers would be sent in return. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over. Corpus Christi Liquefaction, LLC (Corpus Christi Liquefaction), a subsidiary of Cheniere Energy, is developing and constructing a liquefied natural gas (LNG) export terminal at one of Cheniere's existing sites that was previously permitted for a regasification terminal. Brazilian federal. Lawsuit targets alleged Puerto Rico power company corruption. This content was published on March 13, 2018 11:21 AM Mar 13, Vitol SA, and Trafigura AG. Trafigura is due to load two cargoes of Venezuelan crude before the end of February, the source with direct knowledge and a shipping source said. ThyssenKrupp tightens anti-corruption compliance regulations German steel group ThyssenKrupp has further tightened its regulations on compliance with external and internal requirements on anti-competitive practices and anti-corruption laws, the company said on Tuesday April 16. MPs have the same right as anyone else to know the nature of any charges against them and to know that they will be subject to a fair process in dealing with these. It revolutionized the way organizations use data with intuitive visual discovery that put business intelligence in the hands of more people than ever. However, how can the PNP, which still has members in court over Trafigura, pretend to have the temerity to accuse anyone of corruption? The Trafigura case, which involved the $31-million donation to the PNP from Trafigura Baheer, first became known in 2006. [2] In 2018, the Tax Justice Network ranked Switzerland's banking sector as the "most corrupt" in the world due to a large offshore banking industry and very strict secrecy laws. Tabone also faces corruption charges pertaining to deals with six other companies. It did not identify. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. A witness for the Economic and Financial Crimes Commission, Mr Emefo Etudo, on Wednesday told an Ikeja Special Offences Court that international oil companies - Trafigura Beheer BV and Trafigura. Net loss attributable to the company narrowed to $181. Post Contract Works Quality Complaint. The Trafigura corruption matter has been running from 2006, when the then Jamaica Labour Party (JLP) leader Bruce Golding broke the story in dramatic fashion. Trafigura was alleged to have shipped the untreated chemical waste to Côte d’Ivoire with knowledge that there were no facilities to treat it. The suspension comes after 12 traders were charged as part of an alleged bribery scheme connected with the ongoing Operation Car Wash corruption and. LONDON/NEW YORK, Aug 12 (Reuters) - Global commodities trader Trafigura has started shipments of Permian basin crude to the Corpus Christi oil hub in Texas via the new 670,000-barrel-per-day (bpd. Brazil's Operation Car Wash corruption probe is investigating Glencore, Trafigura and Vitol for allegedly paying millions of dollars in bribes to Petrobras employees in return for better terms. TRAFIGURA An article (Big profits from a very dirty business encourages corruption and broken treaties, News, July 18) referred to a serious incident of waste dumping in Abidjan in the Ivory Coast. It is also one of the most important elements of democracy as it allows citizens to know what elected officials, governments and corporations are doing and by whom countries are ruled. Description of actions or relevant policies related to Anti-Corruption Includes a measurement of outcomes Sustainable Development Goals. Alex Bell hosts a special programme about Corruption in Zimbabwe, and is joined by economic analyst Vince Musewe to discuss the controversial takeover of the ZANU PF linked Sakunda fuel group by a. And for them, Brazil is just one of hundreds of bribe/corruption station. Trafigura referred Reuters to a statement the company issued after last week’s arrests, which said the company had zero- tolerance policies for bribery and corruption. Tor is an encrypted anonymising network that makes it harder to intercept internet communications, or see where communications are coming from or going to. BainBridge Navigation has established its foundations on quality of services rendered and resulting contentment of our clientele worldwide. Kyiv's Pechersky District Court has arrested assets in accounts of Trafigura Ukraine LLC, a subsidiary of world's major energy trader Trafigura, in the State Treasury and Alfa-Bank as part of a pre-trial investigation of the Prosecutor General's Office into theft of budget funds by state-owned Ukrspyrt in the process of natural gas purchases, that’s according to a court ruling of September. UL] for allegedly paying at least $1. Venezuelan ties Geneva probe opened into alleged oil trade corruption. Lawsuit targets alleged Puerto Rico power company corruption The lawsuit was filed against fuel companies Trafigura and Vitol for allegedly supplying low-grade oil as well as three. The Trafigura scandal is no more or no less symptomatic of corruption than the Petrojam scandal (JLPPNP); The CMU scandal and Jamaica Labour Party (JLP) is no more or no less symptomatic of corrupt practices than the Cuban Light Bulb scandal or the campaign donation scandal. 1 billion, it said. Dealing oil and petroleum products was the primary factor behind commodity trader Trafigura doubling its result in this year's first six months. Trafigura’s aggregate direct purchases of crude, refined products and natural gas from national oil companies rose in 2016 to a third of its traded volumes, up from about a quarter in 2015, according to the company’s annual responsibility report published on Wednesday. In a statement sent to The Daily, www. 8 This was certainly an issue in the. This is apparent from the indictment that PdVSA filed earlier this month with the court of Miami. Commodity traders Glencore, Vitol and Trafigura are under investigation on suspicion of paying more than $15m (£11. Instead of putting it through a refinery, Trafigura tried to clean it up, using a do-it-yourself method, so they could sell it on at a massive profit. FOREWORD We are pleased to announce the publication of A Resource Guide to the U. against corruption, Angola has yet to implement any meaningful development programs for a citizenry of 14 million, many of whom still live in poverty. 25 million tons annually for 15 years. It did not identify. As they passed out of the pipe from the vessel Trafigura had, by marine law and custom, transferred title and responsibility to the local agent to whom it was consigned. Reacting to a documentary by Al Jazeera, in which it was alleged that her piece of property in Abuja worth $18 million and her jewelry worth […]. 8 million, or 41 cents per share, a year earlier. Fraudsters presented a false bill of lading against which the shipowners gave a delivery order entitling the fraudsters to delivery from the container terminal. It did not identify. Trafigura is a leading international condensates trader, bringing a wide variety of grades to market in all parts of the world. Trafigura and the Angolan Presidential Mafia 5 de January de 2013 Rafael Marques de Morais In two years of operations in Angola, Pumangol has become a leading player in the marketing of Angolan oil, as well as in the distribution of oil products in the country. Petroleo Brasileiro ADR news and PBR price. (Reuters, Brad Brooks, 11. OCCRP is a media organization funded by private foundations, Google and the governments of the United States, Britain and Sweden. By Jeffrey T. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over. By Brad Brooks SAO PAULO (Reuters) - Commodities trader Trafigura [TRAFGF. ch) submitted 24 days ago by zsmithworks. It did not name. Apart from the Amsterdam. Apart from the Amsterdam. A Federal High Court, in Lagos has granted leave to a Nigerian company, Nadabo Energy Limited, to serve court processes on a British company, Trafigura Beheer B. Trafigura ends use of middlemen after corruption probes Financial Times | Jul 14, 2019 at 8:00 PM …company, which trades more than 5. Zimbabwe: Corruption in Zimbabwe (Trafigura Special) 27-05-14 Photo: Zac Crockett/Global Journalist Journalists have been protesting for a free press since the rise of the Mugabe regime (file photo). Lawyers for commodities trader Trafigura have cited the EU General Data Protection Regulation for its refusal to hand over emails related to a case in which two former executives in Brazil face corruption charges, Reuters reports. Shalina Resources and its Democratic Republic of the Congo (DRC) subsidiary, Chemaf, sign marketing agreement for cobalt hydroxide with Trafigura Ramsey and Lubumbashi, 4th April 2018 – Shalina Resources Ltd and its DRC subsidiary Chemaf S. Since we acquired our first mining rights at the Etoile Mine, we have been committed to making a positive impact on the communities in the country as a whole and, in particular in Katanga Province. Nadabo Energy Demands Police Inquiry Into Money Laundering Accusations Against Trafigura Nadabo Energy alleged that solicitors of Trafigura are working to ensure justice does not prevail in the case. Rich was the pioneer of the spot market for crude. Liberia Steps Up Fight Against Maritime Corruption Liberia has become the 1st ship registry to be admitted to the Maritime Anti-Corruption Network as a member. 5 million in bribes to employees of. 5 Jobs sind im Profil von Imane Daoudi aufgelistet. The problems with agents extend beyond the commodity trading industry. Price of copper. Swiss prosecutors also have an open investigation, announced one month after Ferraz's arrest in Brazil in 2016. But when MaltaToday broke the story that Trafigura had paid a bribe to Frank Sammut, the chief executive of Enemalta subsidiary Mediterranean Offshore Bunkering Corporation (MOBC) in 2003, police investigations were kick-started into a complex web of bribery and corruption. 18 for every barrel sold. 3m to officials at the Brazilian state oil company Petrobras, in return. SÃO PAULO -- Brazilian prosecutors on Friday charged ex-executives of commodities trader Trafigura Group and of oil company Petróleo Brasileiro SA, or Petrobras, with corruption and money laundering in relation to a series of oil-trading contracts. It did not name. ng News ★ A witness, Emefo Etudo, on Wednesday, January 16, testified before an high court that international oil companies, Trafigura Beheer BV and Trafigura PTE, were involved in money laundering while transacting businesses in Nigeria. KD mek the whole “star bwoy” thing fly to his head. Trafigura: Corruption in Malta In February 2013, the Maltese energy corporation, Enemalta, banned Trafigura from bidding in fuel tenders [1] due to their alleged involvement in a corruption scandal. "Angola is incredibly compelling from a human rights point of view partly because of the corruption and the fact that this is a government that has the resources to respond to the. investigation, with the latter reiterating past statements that it. (CLF) Short Interest Find short interest for Cleveland-Cliffs Inc. Sehen Sie sich auf LinkedIn das vollständige Profil an. The Swiss-based company will make USD 0. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and. Spokesmen for Glencore and Trafigura declined to comment. Today, Switzerland-based trading house Trafigura disclosed how much it paid to several governments in exchange for commodities in its first annual responsibility report. Trafigura president Claude Dauphin, who in August paid a visit to Prime Minister Portia Simpson Miller at Jamaica House before his company controversially transferred over $31 million to the People's National Party, is a man steeped in the art of expensive gift giving. 5m were allegedly paid to help secure more favourable oil tradingFederal prosecutors in Brazil have filed corruption charges against two former executives from commodities multinational Trafigura, a former executive at Petrobras …. Then, in December 2012, Trafigura again found itself mired in African controversy when Wynter Kabimba, the Zambian justice minister, was hauled before his own country’s Anti-Corruption. "The corruption scheme in Petrobras' fuel oil trading operations in favor of Trafigura was maintained for at least six years," the prosecutors said in, a statement. , an oil trading subsidiary of Trafigura Group Pte Ltd. The filing was submitted today by Trafigura's legal team to federal judge Gabriela Hardt. Trafigura, Mercuria and Vitol. Summary: Tancred Tabone and Frank Sammut have been charged with receiving kickbacks tied to contracts with Dutch oil company Trafigura. Mr Emefun Etudo, a prosecution witness for the Economic and Financial Crimes Commission, on Wednesday, alleged that Trafigura Beheer BV and Trafigura PTE Ltd, an international oil company, owed the. Members collaborate on collective action and share leading practice in organisational compliance. Price of copper. Brazilian prosecutors charged ex-executives of commodities trader Trafigura Group and oil company Petróleo Brasileiro SA, or Petrobras, with corruption and money laundering in relation to a. Follow us on Social Media. 25 million tons annually for 15 years. Brazilian prosecutors charge ex-executives of Petrobras (PBR-1. WILLEMSTAD - Curaçao-based Blue Bank International denies having been aware of fraud by some defendants in a corruption case involving among other oil traders Trafigura and Vitol of payment. The waste caused burns and nausea as well as the release of noxious sulphur dioxide. Companies such as Vitol and Trafigura managed to get a head start on other parties for a fee. But that doesn't mean that MPs have forfeited any right to natural justice. The PNP accepted $35 million from Dutch firm Trafigura, which was contracted to trade Nigerian oil on the country's behalf. Tankers stuck as Glencore and BP struggle to sell tainted crude; Frontline to buy up to 14 suezmaxes from Trafigura in $675m-plus deal. Trafigura: Corruption in Malta In February 2013, the Maltese energy corporation, Enemalta, banned Trafigura from bidding in fuel tenders [1] due to their alleged involvement in a corruption scandal. Hosted by the Government of France on 18-19 June 2019 in Paris, the 8th EITI Global Conference gathered more than 1000 stakeholders from around the globe to take stock of progress and priorities in extractives transparency. Venezuela accuses large oil traders of corruption. View Cesar Dantas’ profile on LinkedIn, the world's largest professional community. Trafigura denied responsibility, stating that they had entrusted the waste to an Ivorian disposal company, Tommy, which was established a few weeks before the ship’s arrival. Arrest warrants were issued for 11 suspects. Zimbabwe: Corruption in Zimbabwe (Trafigura Special) 27-05-14 Photo: Zac Crockett/Global Journalist Journalists have been protesting for a free press since the rise of the Mugabe regime (file photo). Trafigura´s business in Zambia has attracted additional corruption allegations. The probe marked a new phase in Operation Car Wash, an anti-corruption investigation opened in 2014 that. Trafigura, Glencore and Vitol have said they have a zero-tolerance policy on bribery and corruption. The modern analytics era truly began with the launch of QlikView, our classic analytics solution, and the game-changing Associative Engine it is built on. Commodity companies inhabit a world thick with logistical peril and corrupt. (Reuters, Brad Brooks, 11. Malta has banned Trafigura from supplying oil pending investigation into corruption activities by the Company. Lawsuit targets alleged Puerto Rico power company corruption. Trafigura was the counterparty to the alleged fraudulent deals, an indictment cited by Reuters claimed. Lewis, Scott Patterson and Luciana Magalhaes. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. -listed shares of Brazil-based Petroleo Brasileiro S. New justice minister Sérgio Moro at a national forum on fighting corruption. Cleveland-Cliffs Inc. Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1. However, how can the PNP, which still has members in court over Trafigura, pretend to have the temerity to accuse anyone of corruption? The Trafigura case, which involved the $31-million donation to the PNP from Trafigura Baheer, first became known in 2006. The case is a painful but vital reminder that the world's efforts to stamp out corruption in the gas, oil and mining industries still carry crucial blind spots. Vitol SA, Glencore Plc and Mercuria Energy Group are also under investigation in Brazil. 1-2 delivery slot, according to a bid evaluation report published by Pakistan LNG. 5m were allegedly paid to help secure more favourable oil tradingFederal prosecutors in Brazil have filed corruption charges against two former executives from commodities multinational Trafigura, a former executive at Petrobras …. It was not immediately clear whether these two tankers were the last of the already-concluded trades, or how many - if any - product tankers would be sent in return. The company stated that the suggestion that its current management knew that payments to an intermediary would be used to make improper payments to employees of the Brazilian state-owned petroleum company is not correct, and that the company has a zero tolerance policy on bribery and corruption. An internal report produced for Trafigura (the Minton Report) confirmed that, “possible consequences are burns to the skin, eyes and lungs, vomiting, diarrhoea, loss of consciousness and death”. In a statement sent to The Daily, the company stated: “During a year characterised by great volatility across the. Crowell & Moring’s Latin America Practice publishes a Regional Recap each month to highlight some of the most relevant news and trends from the region. trust over a multi-billion dollar corruption scheme to buy petroleum products below market value, the. Posts about sanctions written by davekienzler. SÃO PAULO -- Brazil's sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to employees of Brazilian oil company Petróleo Brasileiro SA, or Petrobras, in return for better terms on trading contracts. The ruling on the application filed by lawyers representing former Prime Minister Portia Simpson Miller and four other People's National Party (PNP) members in the Trafigura case, who are seeking. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. Corruption had cost the company a staggering $2. Three global oil trading companies with strong ties to the UK face being dragged into Brazil's "Car Wash" investigation, after a report raised questions about their connections to. Brazil's Operation Car Wash corruption probe is investigating Glencore, Trafigura and Vitol for allegedly paying millions of dollars in bribes to Petrobras employees in return for better terms. Description of actions or relevant policies related to Anti-Corruption Includes a measurement of outcomes Sustainable Development Goals. 8 billion with Trafigura Singapore to set up the first copper smelter in the kingdom, said a Reuters report. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. Lawyers have cited mutual legal assistance treaties and certain EU General Data Protection Regulation (GDPR) exceptions as some of the routes through which oil trader Trafigura could hand over emails to Brazilian authorities. A bad example of how externalities have been dealt which is the actions of trading company Trafigura. The Maltese Public Accounts Committee (PAC) was investigating this matter [2] in summer 2013. OCCRP, the Organized Crime and Corruption Reporting Projects, made headlines this week with its excellent investigation into links between a Trafigura subsidiary, Trafigura Pte Ltd. GoJ Procurement Procedures. Trafigura referred Reuters to a statement the company issued after last week's arrests, which said the company had zero- tolerance policies for bribery and corruption. (Reuters, Brad Brooks, 14. Trafigura, which hit the headlines for dumping toxic oil waste in the Ivory Coast in 2006, has also admitted trading aluminium oxide (also known as alumina) with Iralco. It was not immediately clear whether these two tankers were the last of the already-concluded trades, or how many - if any - product tankers would be sent in return. Mexican steel producer Altos Hornos de México (Ahmsa) had its banking accounts frozen by the local federal government on Monday May 27, amid a corruption probe in the country that also implicates a former executive of state-owned oil company Petróleos Mexicanos (Pemex). Trafigura Reveals $4. 5 million in bribes to employees of Brazil's state-run oil company Petroleo Brasileiro. A Trafigura spokesperson told UPI company officials "do not comment on legal matters. Brazilian federal prosecutors on Friday filed corruption charges against two former executives of the oil trader Trafigura for allegedly paying at least $1. L ("Chemaf"), a company specializing in cobalt and copper exploration, mining and processing in the DRC, have today announced the signing of a. By Jeffrey T. THE Zimbabwe Anti-Corruption Commission (Zacc) has engaged some European ambassadors seeking co-operation in efforts to Read More ‘It’s now difficult to do business here in Zim’. Trafigura - The latest news about Trafigura from the WSJ Risk & Compliance Journal. Liberia Steps Up Fight Against Maritime Corruption Liberia has become the 1st ship registry to be admitted to the Maritime Anti-Corruption Network as a member. (June 26): A former agent of a US unit of Keppel Offshore & Marine, the world’s biggest builder of oil rigs, pleaded guilty in a scheme to pay bribes to Brazilian officials tied to the Petrobras scandal. Puerto Rico power company corruption. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. Trafigura was alleged to have shipped the untreated chemical waste to Côte d’Ivoire with knowledge that there were no facilities to treat it. 3 billion, about N860 billion to state entities in 2013, with the Nigerian. ch in English (swissinfo. By Andy Hoffman Trafigura Beheer BV, the third-largest crude trader, has scrapped a controversial products-swap deal with Nigeria’s national oil company, according to a person familiar with the matter. The 2006 Ivory Coast toxic waste dump was a health crisis in Ivory Coast in which a ship registered in Panama, the Probo Koala, chartered by the Singaporean-based oil and commodity shipping company Trafigura Beheer BV, offloaded toxic waste to an Ivorian waste handling company which disposed of it at the port of Abidjan. “Trafigura is a leading player in global shipping,” said Chin Hwee Tan during today’s ceremony. At least on the surface, it appears that Trafigura, which is as reliant on the ups and down of commodity trading as Glencore, is far more levered, and. Heightened due diligence The problems with agents extend beyond the commodity trading industry. Glencore and oil trader Vitol, both based in Switzerland, and Singaporean oil trader Trafigura are suspected of paying a total of about $15m in bribes, and. Commodities trader Trafigura [TRAFGF. Trafigura, Glencore and Vitol have said they have a zero-tolerance policy on bribery and corruption. Technically, Trafigura's liability for the slops ended as the slops passed through the discharge flange of the vessel. Most of the. Malta police last week arrested and started prosecuting former Energy authority Chairman Tancred Tabone and his adviser Frank Sammut accused of bribery, corruption and money laundering in the procument of oil. Two former executives of Trafigura were charged with bribery. L) paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA (PETR4. Instead of putting it through a refinery, Trafigura tried to clean it up, using a do-it-yourself method, so they could sell it on at a massive profit. 4 million, 38 million. Trafigura ends use of middlemen after corruption probes Financial Times | Jul 14, 2019 at 8:00 PM …company, which trades more than 5. Heightened due diligence The problems with agents extend beyond the commodity trading industry. Lawsuit targets alleged Puerto Rico power company corruption. This content was published on March 13, 2018 11:21 AM Mar 13, Vitol SA, and Trafigura AG. Brazil prosecutors alleged on Wednesday that trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA in return for business. 5m barrels of oil per day, will end all of its "business development" agreements with agents by October, although it will continue to use security advisers, risk analysts…. SA) in return for business. KD mek the whole “star bwoy” thing fly to his head. 3m to officials at the Brazilian state oil company Petrobras, in return. Brazilian federal. Trafigura is a multinational formed in 1993, trading in base metals and energy, including oil. The JLP has called it a scandal, suggesting it was a kick-back to enable Trafigura to keep the contract. The initiative is based on a commitment to zero tolerance on bribery and implementation of practical and effective anti-corruption programmes. L ("Chemaf"), a company specializing in cobalt and copper exploration, mining and processing in the DRC, have today announced the signing of a. I take this as a good sign given that negative feedback is more likely to occur than positive feedback. Crowell & Moring’s Latin America Practice publishes a Regional Recap each month to highlight some of the most relevant news and trends from the region. Prosecutors said in a. Former CEO of London-Based Company Pleads Guilty to Federal Charge in $2. Multinational trading company Trafigura, implicated in a bribery scheme with Brazilian state-controlled oil giant Petrobras, has told Brazilian authorities it can't disclose the contents of emails of two former officials of the company to the courts because doing so could violate European data protection laws, according to court filings. Oil company Trafigura to stop using middlemen after corruption probes. Zambia's justice minister, Wynter Kabimba, was on Monday called in front of the country's anti-corruption commission to respond to allegations that Trafigura paid his company, Midland Energy Zambia, to secure a petrol- and diesel-supply deal. — Anti-Corruption News Story Curated by Anti-Corruption Digest International Risk & Compliance News WILLEMSTAD - The Venezuelan state oil company PdVSA accuses oil traders Trafigura, Vitol and Glencore of paying millions of dollars in bribes. trust over a multi-billion dollar corruption scheme to buy petroleum products below market value, the. The case has received very little media attention – a sign, perhaps, of the ongoing chill that Trafigura is managing to cast over the UK media – but it was mentioned again in this Guardian piece last month. , among others, was also involved. The biggest independent oil and metals trading houses are facing bribery and corruption investigations in multiple jurisdictions. Sehen Sie sich auf LinkedIn das vollständige Profil an. In a statement sent to The Daily, www. Heightened due diligence The problems with agents extend beyond the commodity trading industry. 2019 EITI Global Conference. Tankers stuck as Glencore and BP struggle to sell tainted crude; Frontline to buy up to 14 suezmaxes from Trafigura in $675m-plus deal. SÃO PAULO -- Brazil's sprawling Operation Car Wash corruption probe is investigating mining giant Glencore PLC, Trafigura Group and Vitol Group for allegedly paying millions of dollars in bribes to employees of Brazilian oil company Petróleo Brasileiro SA, or Petrobras, in return for better terms on trading contracts. Cesar Dantas Crude Operator at Trafigura Houston, Texas Area Oil & Energy 3 people have recommended Cesar. But overall, the USA is a violent and dangerous society, with youths carrying handguns in their waistbands, and assaults and shootings commonplace. Vitol, Glencore and Trafigura, which boast combined annual revenues of more than. View Cesar Dantas’ profile on LinkedIn, the world's largest professional community. Reacting to a documentary by Al Jazeera, in which it was alleged that her piece of property in Abuja worth $18 million and her jewelry worth […]. It did not identify. Glencore declined to comment. And for them, Brazil is just one of hundreds of bribe/corruption station. Thousands of people due payouts over the dumping of toxic waste by oil-trading group Trafigura in Ivory Coast won their English High Court claim against their lawyers on Thursday, having never received their money. Trafigura, Mercuria and Vitol said they have a zero-tolerance policy for bribery and corruption. KD mek the whole "star bwoy" thing fly to his head. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. “It’s the largest corruption scandal in the history of Puerto Rico,’’ said Senator Eduardo Bhatia, who served on a commission that investigated the utility’s fuel purchases in 2016. Our employees and senior managers are strictly prohibited from receiving, accepting, offering, paying or authorizing any bribe or any other form of corruption. Complaint & Feedback. The Office of the Attorney General in Switzerland had opened a criminal probe into an employee of Trafigura as part of a wider investigation into suspected corruption at Petrobras. UL] has refused a judge's order to hand over the email archives of two former executives in Brazil who are facing corruption charges over accusations they bribed officials at state-run oil firm Petroleo Brasileiro. Brazil has opened an investigation into commodity trading groups Glencore, Vitol and Trafigura over alleged bribery of employees at state-run oil company Petrobras, prosecutors said Wednesday. The Financial Times reports that the company, which trades more than 5. As they passed out of the pipe from the vessel Trafigura had, by marine law and custom, transferred title and responsibility to the local agent to whom it was consigned. Combined with low oil prices, the company has seen a stark reversal of its fortunes from an $8. Commodities trader Trafigura [TRAFGF. However, how can the PNP, which still has members in court over Trafigura, pretend to have the temerity to accuse anyone of corruption? The Trafigura case, which involved the $31-million donation to the PNP from Trafigura Baheer, first became known in 2006. Trafigura referred Reuters to a statement the company issued after last week's arrests, which said the company had zero- tolerance policies for bribery and corruption. Public furore over the scandal led to the Prime Minister and his government being forced to resign amid public belief that corruption was to blame for the dumping. Trafigura president Claude Dauphin, who in August paid a visit to Prime Minister Portia Simpson Miller at Jamaica House before his company controversially transferred over $31 million to the People's National Party, is a man steeped in the art of expensive gift giving. ThyssenKrupp tightens anti-corruption compliance regulations German steel group ThyssenKrupp has further tightened its regulations on compliance with external and internal requirements on anti-competitive practices and anti-corruption laws, the company said on Tuesday April 16. Three global oil trading companies with strong ties to the UK face being dragged into Brazil's "Car Wash" investigation, after a report raised questions about their connections to. View Cesar Dantas’ profile on LinkedIn, the world's largest professional community. In 2012 the Lord Chief Justice of England and Wales commented that ivate pr prosecutions had increased in the country because of “retrenchment of state activity” wherein the state had not been pursuing claims it might have in wealthier times. He has no behaviour, and is allowed to get away with it. A witness for the Economic and Financial Crimes Commission, Mr Emefo Etudo, on Wednesday told an Ikeja Special Offences Court that international oil companies - Trafigura Beheer BV and Trafigura. Trafigura and Vitol, the commodity trading goliaths, have found themselves embroiled in Brazil’s Car Wash scandal, one of the biggest corruption cases of all time. Brazil charges former Trafigura executives with corruption This article is more than 8 months old Bribes of more than $1. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. It was not immediately clear whether these two tankers were the last of the already-concluded trades, or how many - if any - product tankers would be sent in return. NNPC by law manages the joint venture between the Nigerian federal government and a number of foreign multinational corporations, which include Royal Dutch Shell, Agip, ExxonMobil, Total S. The initiative is based on a commitment to zero tolerance on bribery and implementation of practical and effective anti-corruption programmes. (MENAFN - Swissinfo) Trafigura ends use of middlemen after corruption probes Jul 15, 2019 - 09:19 Trafigura, one of the world's biggest commodity traders, is to stop using intermediaries – the. SA) in return for business. Then, in December 2012, Trafigura again found itself mired in African controversy when Wynter Kabimba, the Zambian justice minister, was hauled before his own country’s Anti-Corruption. TAGS: Corruption Brazil’s Petrobras found suspicious activity in its oil trading business – and failed to stop it – six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters. Nadabo Energy Demands Police Inquiry Into Money Laundering Accusations Against Trafigura Nadabo Energy alleged that solicitors of Trafigura are working to ensure justice does not prevail in the case. In August 2012, Trafigura allegedly bribed Wynter Kabimba, director of Midland Energy Zambia and the country´s justice minister, to secure a $500 million fuel contract. By Andy Hoffman Trafigura Beheer BV, the third-largest crude trader, has scrapped a controversial products-swap deal with Nigeria’s national oil company, according to a person familiar with the matter. against corruption, Angola has yet to implement any meaningful development programs for a citizenry of 14 million, many of whom still live in poverty. No legal action has been taken against media outside the UK who have reported on the alleged deaths. Commodities trader Trafigura has agreed on a 33-million-euro settlement with lawyers representing 31,000 people in the Ivory Coast who claim to have fallen ill due to a 2006 toxic waste dump. A federal control board overseeing Puerto Rico's finances filed a lawsuit on Sunday to recover what it called massive fraudulent payments made by the island's power company to fuel suppliers for more than a decade. , and an arms sales in South Sudan. com brings latest trafigura news, views and updates from all top sources for the Indian Energy industry. It did not identify the employee. THE ODOUR of corruption which stained the air around the People's National Party (PNP), while it was in government, has seemingly followed the party into opposition. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. Petrobras' head of supplies, Paulo Roberto Costa had accused Ferraz of being involved in the huge Petrobras corruption scandal in Brazil. Trafigura ends use of middlemen after corruption probes • Relationships with well-connected individuals have become focus for regulators • Markets • One News Page: Sunday, 14 July 2019. Earlier this month, Brazilian authorities accused both companies, and major trader Glencore, of paying over $15 million in bribes to officials at state oil company Petrobras. 3 Billion Payments To NNPC, Others Trafigura Private (Pte) Limited, Monday, stated that it paid $4. Glencore, Vitol and Trafigura are being investigated of bribing employees of the state oil company and middlemen $5. Find out which law firms are representing which Energy and natural resources clients in Colombia using The Legal 500's new comprehensive database of law firm/client relationships. com, the company indi. Trafigura president Claude Dauphin, who in August paid a visit to Prime Minister Portia Simpson Miller at Jamaica House before his company controversially transferred over $31 million to the People's National Party, is a man steeped in the art of expensive gift giving. It did not identify. Venezuelan authorities, if serious at all about fighting corruption, should start its own investigation and arrest the implicated, most of whom are in Venezuela. FOREWORD We are pleased to announce the publication of A Resource Guide to the U. “There are indications that the crimes were being practiced to date, as the investigation covers two other Petrobras employees who were still working at the state oil. Fraud was a known risk – an earlier Trafigura settlement had been beset by corruption, with many victims recovering no compensation. One thought on “ Heated Exchanges at Trafigura Corruption Hearing ” ananse77 June 8, 2016 at 5:08 am. Trafigura said it does not comment on tenders. The oil company agreed in 2009 to pay around £30 million ($42. Corruption did not noticeably improve in 2007. Trafigura, Glencore and Vitol have said they have a zero-tolerance policy on bribery and corruption. "Angola is incredibly compelling from a human rights point of view partly because of the corruption and the fact that this is a government that has the resources to respond to the. Lewis, Scott Patterson and Luciana Magalhaes. Trafigura referred Reuters to a statement the company issued after last week's arrests, which said the company had zero- tolerance policies for bribery and corruption. The lawsuit was filed against fuel companies Trafigura and Vitol for allegedly supplying low-grade oil as well as three. New justice minister Sérgio Moro at a national forum on fighting corruption. These intermediaries, who include both established firms and well-connected individuals, provide introductions to decision-makers, intelligence on how to secure a contract, and an on-the-ground presence in far-flung lands. Trafigura is a leading international condensates trader, bringing a wide variety of grades to market in all parts of the world. The Commission has concluded that the proposed acquisition of control of.