Just another WordPress. According to the e-commerce platform that hosted the sales, commodity traders Glencore PLC and Trafigura have picked up a combined 70,479 tonnes of aluminium over the past week by winning online. Trafigura was fined £840,000 by a court in the Netherlands for illegally exporting tonnes of. Furthermore, the PNP's favourability rating dropped after the scandal broke and the party never recovered. The sheer weight of the campaign forced Trafigura to to drop the injunction entirely, allowing the details of their toxic dumping to be reported on after all but only after first creating a worldwide scandal about it. In 2011, it was worth US $3. You do a 2-year rotation at either geneva, singapore, stamford, buenos aires. He was sentenced to more than 10 years in jail. View details and apply for this Graduate job in UK with PwC - Graduate on Milkround. At the time of the donation, Trafigura had an oil-lifting contract with the then PNP administration. Trafigura Oil & Energy Singapore, Singapore 152,034 followers Trafigura is one of the world's leading independent commodity trading and logistics houses. Trafigura is an independent, employee-owned physical trading and logistics business. The global oil trader is taking over the ZANU-PF-connected fuels distributor as part of a regional expansion campaign, Trafigura is consolidating its grip on the fuel supply and distribution market in Zimbabwe with the acquisition of Sakunda Energy via its South African subsidiary, Puma Energy Africa Holdings (AC Vol 54 No19, Sakunda fuels rumours). Post Trafigura's global strategic decision to exit from value-add manufacturing businesses in India where it is a joint venture partner, PIL decided to acquire balance 50 per cent stake in Ryker from Trafigura, making Ryker a wholly-owned subsidiary of PIL. 4 billion in World Bank ESG bondsNWB Bank partners with Japan’s GPIF on sustainability bondsIDB launches Australian dollar sustainable development. 1000+ employees. houston, texas area. Rival commodities trading firm Glencore, which was also named in connection with the Car Wash probe, last year became the focus of a CFTC investigation into alleged corrupt practices. Oil-for-food. The chemical waste came from a ship called Probo Koala and in August 2006 truckload after truckload of it was illegally fly-tipped at 15 locations around Abidjan, the biggest city in Ivory Coast. ” Most service stations around the country are dry thereby affecting many departments that require fuel such as agriculture, mining and transport industries. It is the first time the London-based firm has been convicted of criminal charges over the environmental scandal, in which 30,000 Africans were made ill when the. Interesting that UK Master of the Rolls seems to believe. Resource 1 - BBC Newsnight (2009) story on the Trafigura Dumping Scandal Chapter 2: The Ivory Coast Dumping Part One - Mexico to Amsterdam Trafigura is the world's third-largest independent oil trader; it made approximately US$1bn profit in 2009, with an annual turnover of over US$70bn. UL], Trafigura [TRAFGF. The majority of the world's oil trading houses, including Vitol Trafigura, Glencore, and Mercuria. It is a huge scandal that danish people disburse money from the welfare fund in Denmark for people who go to Syria, staying in a war zone and directly or indirectly taking part in military operations is not something that is in any way compatible with receiving disability benefits. Metals trader Concord Resources Ltd is also pushing into green aluminium, said CEO Mark Hansen. This allegation comes off the bat of Zenrock pledging financial stability following the Hin Leong Trading scandal last month. operating losses for spot LNG fleet this year Thailand is set to be a key driver of future LNG trade Hanjin Shipping ‘was a victim of the latest political scandal’ ANALYSIS: Wärtsilä has seen record scrubber. 148 tonnes of aluminium ingots for 375. RIO DE JANEIRO/SAO PAULO (Reuters) – Leading global oil traders Vitol [VITOLV. Bell Pottinger, still argues “Trafigura has always done its business in an ethical and transparent manner. This is the ‘super-injunction’ which Trafigura and Carter-Ruck used to gag the Guardian (and “persons unknown”) on September 11. uk summarises some of the biggest controversies Trafigura has faced since it began business in 1993. Trafigura, the trading company embroiled in the South African state oil kickback scandal, has had close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. Foreign Corrupt Practices Act. Search for ' ' in News. 9m in the past weekNorinchukin invests $1. It’s not just Trafigura and Carter Ruck’s reputation that have taken a pasting over the last few days on Twitter. The waste was shipped by Trafigura, an international commodities trading giant. Carroll Foundation Charitable Trust Scandal Snip UK Government leaked sources have now disclosed that the Carroll Trust's Carroll Aircraft Corporation group were utilised within the framework of a trans-national crime syndicate operation which effectively triggered the criminal liquidation and tax fraud embezzlement of a staggering one billion. For further communication, contact 1-877-604-3909 or write to FORTUNE Customer Service, 40 Fulton Street, New York, NY 10038. Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals (iron ore and coal). Praise for WikiLeaks as Manning Defense Rests FT. Tagwirei owned the majority of the shares in Sakunda where he was roped in as a local partner in compliance with the country’s since discarded indigenisation law. 37 offices. On February 13 th 2007, the Ivorian government set a private deal with Trafigura, the Dutch commodities trading company. Please update your billing details here to continue enjoying your subscription. Singapore's $3 Billion Oil Trading Scandal By Oilprice. The Car Wash kickback scheme is the biggest corruption scandal. We hold Trafigura fully to account for all the deaths and injuries that have resulted from the dumping of their waste. Former Prime Minister PJ Patterson (then Finance Minister) resigned back in 1991 over the “Shell waiver scandal,” but famously declared, “I shall return. A senior Trafigura source said Zhang, who had been trading derivatives with Trafigura since 2011 using collateral and credit backed by a local-government-backed firm, had accumulated losses of $32. 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 fined €1m for exporting toxic waste to Africa The oil trader Trafigura has been fined ¤1m (£840,000) for illegally exporting tonnes of hazardous waste to west Africa. Since the Enron collapse an array of new laws and regulations has been adopted to tighten corporate oversight. com, Glencore rival Trafigura’s China unit on Aug. UL], Trafigura [TRAFGF. These shareholders estimate that Nyrstar has lost hundreds of millions because of onerous contracts with Trafigura. Investment Banker J. FCPA Compliance Guide. Themes Understand all the key topics and the context behind the Inquiry's findings. As UN Checks Toxins in Abidjan, the Dumper Trafigura Figured in Oil for Food Scandal, Funded by RBS and BNP Paribas. View more. The waste was later dumped in Ivory Coast in what became a major environmental scandal. Evolving Role of In-House Counsel: Adding Value to the Business In our twenty years of experience working with hundreds of law departments inside and outside the U. On February 13 th 2007, the Ivorian government set a private deal with Trafigura, the Dutch commodities trading company. May 2008 – Apr 2012 4 years. “This will first hamper (Trafigura) obtaining financing in the relevant Chinese banks,” said a senior China-based trader with a western trading house. Trafigura, Glencore and Vitol Ensnared in Brazil Bribery Scandal Peter Millard , Bloomberg News (Bloomberg) -- Brazil’s federal police are investigating oil trading giants Vitol, Trafigura and Glencore as part of a kickback scheme involving officials of Petroleo Brasileiro SA in the international trading of fuels. 25 million metric tons of imported oil derivatives, according to. Global commodities trader Trafigura is under investigation by US authorities for alleged corruption and market manipulation relating to oil trading, the Guardian has learned. The Guardian newspaper has reported that the minister is accused of taking bribes over a US$500-million fuel contract. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Supreme Court […]. According to Senator Knight, who's a former Cabinet Minister, the Dutch company not knowing its own laws has caused the lingering predicament. “I would request, as we are doing today. But it will certainly concentrate companies’ minds, ah, that if they violate the rules, if they’re caught and if they’re subject to claims such. "We warned that these agreements should never have been signed with Trafigura, it was too little," said Willy Neth, secretary general of the Ivorian League of Human Rights. Sammy Gyamfi, said despite promising to protect the public purse, President Akufo-Addo. 17, 2006, Tommy used trucks to dump waste at 17 sites in the city. As Kenya goes to the polls on 4 March 2013, the question uppermost in the minds of many, both locally and abroad, is this: if the election result is disputed, will the country slip into the kind of…. Opposition Leader and PNP President Portia Simpson Miller, and three other prominent party members, have been summoned to court on Monday in relation to the long running multi-million dollar Trafigura corruption scandal. Opposition Senator KD Knight, is blaming the Dutch oil firm Trafigura Baheer for the troubles its contribution has caused the People’s National Party (PNP). But Trafigura must not believe its own spin. You do a 2-year rotation at either geneva, singapore, stamford, buenos aires. Foreign Corrupt Practices Act. BEIJING, Aug 23 (Reuters) - Commodity traders Glencore PLC and Trafigura have picked up a combined 70,479 tonnes of aluminium over the past week by winning online auctions of metal inventory dating back to China's 2014 Qingdao warehousing scandal, according to the e-commerce platform that hosted the sales. Its founding partners, alongside Claude Dauphine, were former Marc Rich top brass. Simpson-Miller, PNP Chairman, Robert Pickersgill and Region Three Chairman, Phillip Paulwell are the PNP officials who’ve been subpoenaed to court. Throughout our 25-year history, we’ve prospered by questioning the status quo. The global oil trader is taking over the ZANU-PF-connected fuels distributor as part of a regional expansion campaign, Trafigura is consolidating its grip on the fuel supply and distribution market in Zimbabwe with the acquisition of Sakunda Energy via its South African subsidiary, Puma Energy Africa Holdings (AC Vol 54 No19, Sakunda fuels rumours). Trafigura aside the other two are not scandal ridden like the other bidders, mostly Kenyan with scandalous pasts. It is a deeply flawed system, because:. 11 million yuan, or around 12,205. Compania Cupru Min SA Abrud vrea sa vanda la licitatie internationala 40. Search for ' ' in News. ” So transparent that this is not the only scandal to hit the murky company. 1 cent higher at 15 cents on Thursday. 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. A senior Trafigura source said Zhang, who had been trading derivatives with Trafigura since 2011 using collateral and credit backed by a local-government-backed firm, had accumulated losses of $32 million by late 2013 and agreed to a financing scheme with Tian and his Singapore-based gasoline team to settle the losses. In the early years, we were one of a few trading firms challenging the traditional dominance of the big institutions. UL], Trafigura [TRAFGF. 2 Based in Amsterdam, Trafigura Beheer. 148 tonnes of aluminium ingots for 375. Trafigura, the trading company embroiled in the South African state oil kickback scandal, has had close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. It has been the most forward in following in the footsteps “of the Master” in acquiring control of mining properties. had contacts with an ex-Israeli Defence Forces officer who was later sanctioned by the U. "Trafigura has responded to the request and provided available responsive documentation," it said. Using our enforcement powers, we investigate potential breaches of the rules. Brazilian authorities are investigating them and rival Glencore for allegedly paying bribes totalling $15. Unable to find a cost efficie. Both companies are connected via Singapore following Puma’s entry to Australia in 2013 when it bought 250 petrol stations, two oil import terminals and five fuel depots in three separate. The company found itself at the centre of an unfolding scandal in August 2006 when thousands of people fell ill and at least 10 died – with some reports saying 15 – over a period of weeks in Abidjan, the capital of Ivory Coast in west Africa,. Campaign group Public Eye says retailers are exploiting weak regulatory standards. The latest football news, live scores, results, rumours, transfers, fixtures, tables and player profiles from around the world, including PSL. This is the first time Trafigura has faced criminal charges since the toxic waste scandal unfolded in Ivory Coast's commercial capital, Abidjan, in 2006. The waste was later dumped in Ivory Coast in what became a major environmental scandal. A senior Trafigura source said Zhang, who had been trading derivatives with Trafigura since 2011 using collateral and credit backed by a local-government-backed firm, had accumulated losses of $32 million by late 2013 and agreed to a financing scheme with Tian and his Singapore-based gasoline team to settle the losses. Post Trafigura's global strategic decision to exit from value-add manufacturing businesses in India where it is a joint venture partner, PIL decided to acquire balance 50 per cent stake in Ryker from Trafigura, making Ryker a wholly-owned subsidiary of PIL. Firmenich CEO, Gilbert Ghostine, receives Global CEO Award 2019 for his inclusive growth leadership and innovation. He was sentenced to more than 10 years in jail. A free inside look at TechnipFMC salary trends based on 1,299 salaries wages for 543 jobs at TechnipFMC. Trafigura's Minton Report In 2009 the internet went crazy over oil trading company Trafigura's attempts to block publication of an internal study about the health effects of waste dumping in Africa. Cablegate: Jamaica: A Trafigura Scandal Primer Thursday, 12 October 2006, 12:30 pm Cable: Wikileaks Ref: 06KINGSTON2021. Both companies are connected via Singapore following Puma’s entry to Australia in 2013 when it bought 250 petrol stations, two oil import terminals and five fuel depots in three separate. ” So transparent that this is not the only scandal to hit the murky company. World's biggest oil traders paid bribes in Brazil scandal: prosecutors By Pedro Fonseca and Marcelo Rochabrun RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. In 2006, the Trafigura scandal resulted in the resignation of Colin Campbell as Information. However, like most oil traders it has hardly been immune from controversy. 2 million was an increase of 6 percent from the first half of 2016. Farringford N. One of Trafigura´s most infamous controversies involved an environmental scandal in Ivory Coast. The scandal led to the resignation of Campbell as information minister and general secretary. Trafigura are a Dutch oil trading firm and one of the world’s biggest independent oil traders. is a Singaporean-domiciled multinational commodity trading company founded in 1993 that trades in base metals and energy. 17, 2006, Tommy used trucks to dump waste at 17 sites in the city. on fruit - free speech - pesticides and fair trade. Interesting that UK Master of the Rolls seems to believe. We thus begin with a brief description of Trafigura. Trafigura sees windfall profit. A network to export illegal poor quality fuel into West Africa, headed by Trafigura, the company behind the toxic scandal in Côte d'Ivoire, is being exposed in Europe. Eric de Turckheim interviewed by Jeremy Paxman on the BBC's Newsnight - 16 August 2007 - about the Probo Koala scandal. On the night of August 17, 2006, Tommy used trucks to dump waste furtively at 17. The company focus is designed to provide concrete case studies and illustrations. Sunday, The authorities claimed the pipeline was a cheaper option and imposed a levy that is payable to Trafigura which owns Sakunda. Sammy Gyamfi, said despite promising to protect the public purse, President Akufo-Addo. A recent article in Reuters stated Trafigura was part of a bribery scandal in Brazil. The sheer weight of the campaign forced Trafigura to to drop the injunction entirely, allowing the details of their toxic dumping to be reported on after all but only after first creating a worldwide scandal about it. Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. Trafigura Group Pte. In their defense, Trafigura weakly claimed that in-house testing revealed the sludge to be less toxic than originally presumed. “I would request, as we are doing today. Independent traders, such as Vitol, Trafigura, and Gunvor, are usually private companies that keep a low profile on their financials, while large integrated oil companies that have trading divisions (for example, Shell’s Stasco, BP’s IST, and Total’s Totsa) often consolidate the results generated by those divisions with the results of. The company was founded in 1933 and deals primarily in basic metals, energy and oil. While it's mainly standard journalistic practice to inform individuals or companies that they're about to have a report on them published, not least to give them an opportunity to comment, the Trafigura scandal makes plain just how some will seek to have the most destructive, illegal behaviour swept under the carpet. Up to $300,000 raised during the run was generously matched by the Trafigura Foundation. Image: Ok Tedi Mine CMCA Review. That was the same year that I got married, and this November, I will celebrate my 13th anniversary. Trafigura, the british company responsible for a throw out of toxic waste around the Ivorian capital Abidjan in August 2006, offered £1000 each last week to all the 30 000 alive registered victims of it’s actions. 3 million) for illegally dumping chemical waste in Ivory Coast in 2006. ” In the summer of 2019, he was revealed to have supplied testimony to the Canadian mining firm Crystallex in order to support the company’s legal fight against Venezuela’s government before taking over as the most. We are driven by the challenge of supplying the energy that can propel development and ensure the future of the society with competency, ethics, cordiality, and respect for diversity. The most well-known episode is the 2006 dumping of more than half a million litres of toxic waste in open-air landfills in Ivory Coast, West Africa. Post Trafigura's global strategic decision to exit from value-add manufacturing businesses in India where it is a joint venture partner, PIL decided to acquire balance 50 per cent stake in Ryker from Trafigura, making Ryker a wholly-owned subsidiary of PIL. In 2006, the Trafigura scandal resulted in the resignation of Colin Campbell as Information Minister. We develop new outlets for condensates, using Trafigura's diverse customer base that includes refineries, splitters and petrochemical facilities. Great news if you're Trafigura, the Church of Scientology or Spanker Mosely but terrible news if you have any notion of the powerful being held to account. Despite that, Vitol was still chosen to supply the contract. Trafigura, which until March was Tagwirei's partner in Trafigura Zimbabwe, moved 717 million litres of fuel through the pipeline in 2016, with volumes soaring to 639 million litres in 2017 and 768. Praise for WikiLeaks as Manning Defense Rests FT. We uncover that this was neither a one off incident, nor a unique kind of waste. The transaction involved $31 million that was sent by Trafigura to an account belonging to then party general secretary, Colin Campbell. Coronavirus latest: Gov't unveils new €5. (AP Photo, File). These shareholders estimate that Nyrstar has lost hundreds of millions because of onerous contracts with Trafigura. VZCZCXYZ0002 PP RUEHWEB DE RUEHKG #2021/01 2851230 ZNY CCCCC ZZH. 11 million yuan, or around 12,205. 3m to officials at the Brazilian state oil company Petrobras, in return. Oil-for-Food Scandal in Iraq, Waste dumping in Ivory Coast, Chemical explosion in Norway. PIC: Plot twist as ‘Queen B’ is spotted on plane back to Zim amid rumors he fled for the UK Sharon Chirisa Sep 26, 2019 0. Through their attempts to gag the reporting of parliament, Trafigura (turnover $73bn) have given a new lease of lease of life to the following story (click for video): “A smaller company might by now be drowning in scandal” – Newsnight To top things off the document they may have been attempting to suppress – the […]. Former Prime Minister PJ Patterson (then Finance Minister) resigned back in 1991 over the “Shell waiver scandal,” but famously declared, “I shall return. A senior Trafigura source said Zhang, who had been trading derivatives with Trafigura since 2011 using collateral and credit backed by a local-government-backed firm, had accumulated losses of $32 million by late 2013 and agreed to a financing scheme with Tian and his Singapore-based gasoline team to settle the losses. Investment Banker J. The company found itself at the centre of an unfolding scandal in August 2006 when thousands of people fell ill and at least 10 died - with some reports saying 15 - over a period of weeks in Abidjan, the capital of Ivory Coast in west Africa,. Harare, Zimbabwe (News of the South)-Any future democratic government must not honour the loan which was awarded to the ZANU PF government by Singaporean entity Trafigura according to Tendai Biti. Trafigura's contract will cover 18 percent of HMHJ's alumina needs in 2010, which are about 1. The world's largest oil. Using our enforcement powers, we investigate potential breaches of the rules. UL], Trafigura [TRAFGF. Carroll Foundation Charitable Trust Scandal Snip UK Government leaked sources have now disclosed that the Carroll Trust's Carroll Aircraft Corporation group were utilised within the framework of a trans-national crime syndicate operation which effectively triggered the criminal liquidation and tax fraud embezzlement of a staggering one billion. A recent article in Reuters stated Trafigura was part of a bribery scandal in Brazil. The toxic waste scandal first came to light in early September 2006, nearly two weeks after the tanker Probo Koala delivered 400 tons of petrochemical waste to Abidjan. Top executives of the international companies had “total and unequivocal” knowledge of Read moreWorld. World's biggest oil traders paid bribes in Brazil scandal: prosecutors By Pedro Fonseca and Marcelo Rochabrun RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Trafigura eventually paid more than $200 million in settlements. A 2013 NGO investigation detailed how the Swiss oil trader Trafigura set up extensive partnerships with companies linked to Angolan political elites, and these joint ventures came to dominate Angola's downstream petroleum sector. The secret injunction caused a scandal in the UK on 12-13 October 2009, when lawyers for Trafigura, Carter-Ruck, told the Guardian that it prevented the Guardian reporting a parliamentary question by Paul Farrelly MP mentioning the Minton report. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may. ” Most service stations around the country are dry thereby affecting many departments that require fuel such as agriculture, mining and transport industries. In 2019, it pumped 889 million litres into Zimbabwe. Foreign Corrupt Practices Act. It also has a healthy free cash flow ($5 billion in 2015) and comfortably leads its industry peers Fed-Ex and DHL in operating margins. Its spin doctors are still trying to spin the truth. com - Jun 26, 2020, 10:00 AM CDT Back in April, Reuters reported that fabled Singapore oil trading firm, Hin Leong Trading (Pte) Ltd, had been caught with its hand in the cookie jar: One of the biggest names in the world of physical oil trading had systematically cooked its books in a bid. Associate POTEN & PARTNERS. An attempt to defraud victims of the Trafigura toxic waste dump disaster out of £31 million must be stopped, Amnesty International said today in an open letter. The company was founded in 1933 and deals primarily in basic metals, energy and oil. The Court of Amsterdam on Friday ordered giant oil-trading company Trafigura to pay a fine of 1 million euros ($1. A Dutch court finds multinational firm Trafigura guilty of illegally exporting toxic waste from the Dutch port of Amsterdam to Ivory Coast. Backed by $400+ million from high-powered international energy trading giant Trafigura and its private equity subsidiary Galena Associates, the company appeared to have the deep pockets necessary to carry off any number of distressed acquisitions. Was apparently involved in the Iraqi Oil for food scandal iii) A toxic. 3m to officials at the Brazilian state oil company Petrobras, in return. " Trafigura says the waste disposed of in Abidjan was a mix of gasoline residues, water and caustic sodas used to clean slops. World’s biggest oil traders paid bribes in Brazil scandal -prosecutors admin August 17, 2020 RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. Its spin doctors are still trying to spin the truth. BBC Newsnight has uncovered evidence revealing that oil-trading company Trafigura knew that waste dumped in Ivory Coast in 2006 was hazardous. Firmenich CEO, Gilbert Ghostine, receives Global CEO Award 2019 for his inclusive growth leadership and innovation. A recent article in Reuters stated Trafigura was part of a bribery scandal in Brazil. Trafigura, which until March was Tagwirei’s partner in Trafigura Zimbabwe, moved 717 million litres of fuel through the pipeline in 2016, with volumes soaring to 639 million litres in 2017 and 768 million litres in 2018. The British #MeToo scandal which cannot be revealed A prominent UK based business man is using his riches to avoid his name being highlighted as having paid off people to avoid being sued for his Sexual and Racist harassment of staff. This document had been given to the lawyers of the victims of Cote d'Ivoire toxic waste. 17, 2006, Tommy used trucks to dump waste at 17 sites in the city. Trafigura, Vitol, Others Selling Dirty Diesel To Africa September 15, 2016 by Ghanaian Civil society group, the African Centre for Energy Policy, ACEP, has revealed through its partners, a Swiss NGO, Public Eye, how Swiss commodity trading firms are exporting what they call ‘dirty diesel’ to Africa. RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. A network to export illegal poor quality fuel into West Africa, headed by Trafigura, the company behind the toxic scandal in Côte d'Ivoire, is being exposed in Europe. Pierre Lorinet, Trafigura’s chief financial officer, told The Daily Telegraph: “Effectively that report was a draft report, a work in progress, very much when the event was happening and that report was effectively an analysis of possibles, as opposed to basing itself on material analysis, experts working into what did happen on the Ivory. on fruit - free speech - pesticides and fair trade. View more. Global trading business Trafigura's settlement over allegations of toxic waste dumping is a major blow to the company's reputation. “Trafigura has responded to the request and provided available responsive documentation,” it said. Sometimes this happens at the same time. Sembcorp Marine shares plunge as Brazil scandal resurfaces. UL], Trafigura [TRAFGF. Commodity trader Trafigura has closed two debt facilities worth a combined US$1. 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. 5 continents. A former minister under scrutiny is Adama Bictogo who resigned in 2012 amid accusations of misappropriation of compensation payments to the victims of the Trafigura toxic waste scandal (AC Vol 50 No 18 Trafigura and the toxic waste). “Trafigura is continuing to keep these matters under review and is taking the allegations. Trafigura, a commodities trader, has indicated that it is in the process of taking control of its Zimbabwe business after buying out its local partner, Sakunda Holdings. had contacts with an ex-Israeli Defence Forces officer who was later sanctioned by the U. The global oil trader is taking over the ZANU-PF-connected fuels distributor as part of a regional expansion campaign, Trafigura is consolidating its grip on the fuel supply and distribution market in Zimbabwe with the acquisition of Sakunda Energy via its South African subsidiary, Puma Energy Africa Holdings (AC Vol 54 No19, Sakunda fuels rumours). Brazilian prosecutors have also charged two former executives of commodities trading giant Trafigura with corruption, and. Since its creation in 1895, Firmenich has always been more than a Company, it is a Family with a unique legacy of responsible business. 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. According to a Wednesday morning report in The Wall Street Journal, mining giant and commodity trader Glencore and commodity trading houses Vitol and Trafigura are being investigated for paying. 9 million belonging to Trafigura has been frozen by the Chinese authorities in relation to the probe, the report added. RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. said that further legal action should. Fourie, an investment banker, has served as head of Mergers and Acquisitions at Puma Energy, which is jointly owned by Trafigura and Sonangol and is the Zimbabwe partner of Tagwirei’s Sakunda Holdings. Since its creation in 1895, Firmenich has always been more than a Company, it is a Family with a unique legacy of responsible business. Trafigura paid Compagnie Tommy, a contractor in Abidjan, to dispose of the ship’s waste. “We moved from adolescence to. The Commodities and Futures Trading Commission (CFTC) is leading a far-reaching probe into the activities of the oil and metals trading house, including its operations in South America. Houston, Texas • Managed and reported PnL and positions for US, Caribbean, and Central American fuel assets by providing exposure estimates, price. The Trafigura Group, one of the world’s largest independent commodity traders, with a focus on oil and petroleum products and metals and minerals, is at the centre of the narrative. But Trafigura must not believe its own spin. There is talk of potential [email protected][email protected]## at play here and we certainly hope that is not true, but they way things are shaping up, one cannot dismiss those reports. Trafigura Group has set up a dedicated green-aluminium trading desk, betting that climate pressure will revolutionise the aluminium industry by splitting it in two. Supreme Court […]. Type a keyword to start your search. Suddenly, the allegations against Trafigura were news around the world. If nothing else, the scandal "was a catalyst for change," says Mike Wainwright, Trafigura's chief operating officer, who's been with the company since 1996. Factual background. $700m Scandal Rocks GNPC. World's biggest oil traders paid bribes in Brazil scandal: prosecutors By Pedro Fonseca and Marcelo Rochabrun RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol, Trafigura and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Trafigura seeks rebrand. TRAFIGURA, the trading company embroiled in the South African state oil kickback scandal, has close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. Hoffmann-La Roche Ltd. The report stated that the investigation began after invoices were published, allegedly showing that Sammut took payments on oil consignments from Dutch company Trafigura to Enemalta in 2004. Trafigura was fined £840,000 by a court in the Netherlands for illegally exporting tonnes of. VZCZCXYZ0002 PP RUEHWEB DE RUEHKG #2021/01 2851230 ZNY CCCCC ZZH. “Trafigura has a long-standing presence in Pakistan and it owns the excess capacity, which is the capacity not contracted by PLTL, in the terminal of Pakistan Gas Port Consortium Limited (PGPC). Trafigura will be anxious to avoid any disruption to its business in Shanghai, the hub for its metals activity in China, the world’s largest buyer of most commodities. Trafigura, the trading company embroiled in the South African state oil kickback scandal, has had close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. The National Democratic Congress (NDC) says President Nana Akufo-Addo is the biggest enabler and promoter of corruption in his government. Trafigura’s head office is a less hierarchical place, even if that leads to what Weir and head of oil José Larocca both jokingly call “animated” discussions. Two months later, Ivorian authorities started legal proceedings against Trafigura and three of its representatives in Côte d’Ivoire, three French citizens, were jailed in Abidjan. , registered in Curaçao, is the ultimate parent company. and Glencore have been accused or implicated in various bribery scandals and the accusation that they assisted Saddam Hussein in avoiding UN sanctions through the so-called "topping-off" scandal. In the early years, we were one of a few trading firms challenging the traditional dominance of the big institutions. A federal judge in Brazil has said bunker player Cockett Marine Oil Ltd Brazil (Cockett) is among a number of firms that deposited funds into bank accounts implicated as part of the unfolding alleged multi-billion dollar Petrobras bribery scandal, local media reports. BBC Newsnight has uncovered evidence revealing that oil-trading company Trafigura knew that waste dumped in Ivory Coast in 2006 was hazardous. 148 tonnes of aluminium ingots for 375. A NEW report is calling on British authorities to investigate multinational oil trader Trafigura over a 2006 toxic waste dumping scandal that killed at least 15 people and affected tens of. Companies including Trafigura and Mercuria, two of the world’s five largest oil traders, have offered “Covid-19 premiums” to lenders in recent deals, effectively increasing the interest rate they pay. TRAFIGURA, the trading company embroiled in the South African state oil kickback scandal, has close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. New justice minister Sérgio Moro at a national forum on fighting corruption. had contacts with an ex-Israeli Defence Forces officer who was later sanctioned by the U. in the wake of the diesel emissions-cheating scandal that rocked Volk-swagen and then spread to nearly all the major auto companies. Trafigura sees windfall profit. The authority said the passage in the advert in which Trafigura said it 'always strives for positive economic and social involvement in the West African region' was 'misleading and unfair'. By Pedro Fonseca and Marcelo Rochabrun. ” So transparent that this is not the only scandal to hit the murky company. Top executives of the international companies had “total and unequivocal” knowledge of Read moreWorld. Trafigura Oil & Energy Singapore, Singapore 152,034 followers Trafigura is one of the world's leading independent commodity trading and logistics houses. said that further legal action should. Just better. Executives and traders have a huge incentive to avoid disagreements and preserve a long-term vision because their wealth is linked to the company’s fortunes long after they leave. In 2006 more that 100 000 people fell ill after a ship, chartered by Trafigura , brought toxic waste to the country. An investigation by the international magazine Energy Compass, last September indicated that the contract between Trafigura and Sonangol started in 2009. Pierre Lorinet, Trafigura’s chief financial officer, told The Daily Telegraph: “Effectively that report was a draft report, a work in progress, very much when the event was happening and that report was effectively an analysis of possibles, as opposed to basing itself on material analysis, experts working into what did happen on the Ivory. Locations: Nationwide Graduate programme Our graduate training programme is underpinned by a development framework that broadens and deepens your knowledge. On the night of Aug. The artist arrived in Somers Town in 1988 to study art and was intrigued by its post-industrial setting. The MDC Vice President Tendai Biti weighed in on the Kuda Tagwirei Trafigura divorce which saw the fuel mogul selling his stake in Trafigura Zimbabwe to Trafigura. Two Trafigura executives, one who owns a third of the massive company, headed to the Ivory Coast. The Trafigura Group, one of the world’s largest independent commodity traders, with a focus on oil and petroleum products and metals and minerals, is at the centre of the narrative. View more. A Trafigura is facing accusations that it used a Zanu-PF-linked local facilitator and partner to ‘capture’ exclusive fuel supply rights to Zimbabwe. An investigation by the international magazine Energy Compass, last September indicated that the contract between Trafigura and Sonangol started in 2009. The tanker was chartered by Trafigura Beheer BV. By Mike Koehler on July 12, 2019 in AAR Corp, Elliott Broidy, Jurisdiction, Trafigura, Wal-Mart, Year in Review 2019 Scrutiny alert, the irony of it all, just saying …, not sure why, no more third parties, and for the reading stack. Associate POTEN & PARTNERS. BBC Newsnight has uncovered evidence revealing that oil-trading company Trafigura knew that waste dumped in Ivory Coast in 2006 was hazardous. 5 billion and its profits to $1. We source, store and blend all the most actively demanded products and grades, supporting trade flows to the Far East, North and Latin America, Africa and Europe. Trafigura seeks rebrand. Delivery options and delivery speeds may vary for different locations. "Trafigura is a big, multi-billion dollar oil company," she says. In 2006, the Trafigura scandal resulted in the resignation of Colin Campbell as Information. Arms traffickers like Adnan Khashoggi, Mick Ranger or Viktor Bout don't file 10Q's with the SEC. The Risk & Compliance Portal is a collection of free anti-corruption compliance and risk management resources, including e-learning training, country risk profiles,and due diligence tools, produced by GAN Integrity,. Trafigura benefited from oil storage and volatility. $700m Scandal Rocks GNPC. “Mr Kabimba has been boasting that he was cleared by the ACC in the Trafigura oil scandal but the truth is that he refused to be questioned by the investigating officers. NuStar has allowed Trafigura’s loading of PDVSA crude from. Claude Dauphin was a Marc Rich protege who spent a few months in an African prison while he was still a billionaire globe trotting around the world in a private jet. The world's largest oil. Trafigura Beeher BV is a multinational commodity trading company based out of Switzerland. Under Dutch law it’s illegal for companies to donate to political parties. We uncover that this was neither a one off incident, nor a unique kind of waste. The global oil trader is taking over the ZANU-PF-connected fuels distributor as part of a regional expansion campaign, Trafigura is consolidating its grip on the fuel supply and distribution market in Zimbabwe with the acquisition of Sakunda Energy via its South African subsidiary, Puma Energy Africa Holdings (AC Vol 54 No19, Sakunda fuels rumours). Laws are the minimum code of conduct to which the company has to abide by. Trafigura is hiring the world’s top traders into jobs offering immediate global mobility, the potential for rapid promotions, and a fast-paced working environment. 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. Trafigura has something else in common with its rivals: its seemingly unavoidable courting of scandal. Simpson-Miller, PNP Chairman, Robert Pickersgill and Region Three Chairman, Phillip Paulwell are the PNP officials who’ve been subpoenaed to court. As Minton Treharne and Davies observed, this was really an attempt to replicate a refinery procedure, at sea. HSBC have purportedly recommended KPMG LLP to oversee ZenRock and a pre-trial conference is supposedly scheduled on June 11. RIO DE JANEIRO/SAO PAULO (Reuters) – Leading global oil traders Vitol [VITOLV. Trafigura's lawyers, Carter Ruck, no doubt recognizing an attempt to use parliament as a venue to not only subvert the September 11 gag, but as a way to attack their suppression business, told the Guardian that they would consider reporting Farrell's question a contempt of the September 11 gag order. Chief executive and largest shareholder James Henderson departed, lead partner Victoria Geoghegan was fired, and Chime, its second-largest shareholder, wrote off its investment and departed. In 2006, Trafigura refined large amounts of coker naptha (unrefined gasoline) aboard the freighter Probo Koala producing more than 500m3 of difficult-to-dispose toxic waste. The report says the company was established in a period between Trafigura's decision not to pay for expensive waste disposal in Amsterdam and its ship's arrival in Abidjan. 37 offices. The secret injunction caused a scandal in the UK on 12-13 October 2009, when lawyers for Trafigura, Carter-Ruck, told the Guardian that it prevented the Guardian reporting a parliamentary question by Paul Farrelly MP mentioning the Minton report. Tagwirei is the owner of Sakunda Holdings, which is in a 50:50 partnership with Trafigura, an international company with vast interests in fuel. On his blog, Don't Get Fooled Again, Richard Wilson writes : Late last week the BBC chose to delete from its website a damning Newsnight investigation into the Trafigura scandal , following legal threats from the company and its controversial lawyers, Carter-Ruck. An investigation by the international magazine Energy Compass, last September indicated that the contract between Trafigura and Sonangol started in 2009. Pierre Lorinet, Trafigura’s chief financial officer, told The Daily Telegraph: “Effectively that report was a draft report, a work in progress, very much when the event was happening and that report was effectively an analysis of possibles, as opposed to basing itself on material analysis, experts working into what did happen on the Ivory. No coast for Trafigura to dump toxic waste :) All in all this is a better outcome. The Trafigura case, which involved the $31-million donation to the PNP from Trafigura Baheer, first became known in 2006. Its spin doctors are still trying to spin the truth. The firm's profits have ballooned over 16 years; it made $440m (now about £267m) last year on a $70bn turnover, as the world's third-biggest private oil and metals trader, outstripped only by Vitol and Glencore. Posts about Trafigura written by Dave Baxter. Throughout our 25-year history, we’ve prospered by questioning the status quo. The company has been involved in numerous scandals including UN sanctions busting in Iraq during the Oil for Food Programme and more famously the Abidjan toxic waste dumping scandal. Was apparently involved in the Iraqi Oil for food scandal iii) A toxic. According to Senator Knight, who's a former Cabinet Minister, the Dutch company not knowing its own laws has caused the lingering predicament. The reputation of Trafigura, the company implementing the Chemaf pilot project, was tarnished by waste dumping in Ivory Coast and, more recently, a Brazilian bribery scandal in which Glencore was. Truckers bringing. , registered in Curaçao, is the ultimate parent company. Foreign Corrupt Practices Act. Please update your billing details here to continue enjoying your subscription. Advanced Search. Associate POTEN & PARTNERS. Related: Winson Group and ZenRock Commodities reassure fiscal stability despite Hin Leong fiasco. The scandal led to the resignation of Campbell as information minister and general secretary. Laws are the minimum code of conduct to which the company has to abide by. Thread by @DawsonSField: "Swiss serve search warrants on Geneva offices of Vitol & Trafigura for price fixing to fleece Brazilian State o! Connected to US &; Brazilian corruption cases. Again, Trafigura denied the danger of the slop. L) paid more than $30 million in bribes to employees at state-owned. Trafigura had persistently denied that the waste was harmful but internal e-mails show staff knew it was hazardous. Trafigura refused to comment for the report, though Reuters noted that senior company officials have in the past maintained that at the heart of the scandal lies a commercial dispute rather than a criminal act. Vitol, Trafigura, Addax & Oryx and Lynx Energy have been named because they are shareholders of the fuel retailers. 3m to officials at the Brazilian state oil company Petrobras, in return. The National Democratic Congress (NDC) says President Nana Akufo-Addo is the biggest enabler and promoter of corruption in his government. Minton report secret injunction gagging The Guardian on Trafigura, 11 Sep 2009. The claim relates to the Probo Koala scandal, in which tonnes of toxic waste owned by Trafigura was dumped in Ivory coast by an unqualified local contractor. The group has managed to grow its revenue from US$12 billion in 2003 to US$180. BEIJING, Aug 23 (Reuters) - Commodity traders Glencore PLC and Trafigura have picked up a combined 70,479 tonnes of aluminium over the past week by winning online auctions of metal inventory dating back to China's 2014 Qingdao warehousing scandal, according to the e-commerce platform that hosted the sales. Fourie, an investment banker, has served as head of Mergers and Acquisitions at Puma Energy, which is jointly owned by Trafigura and Sonangol and is the Zimbabwe partner of Tagwirei’s Sakunda Holdings. Trafigura eventually paid more than $200 million in settlements. This is much bigger than Trafigura and may be the single biggest post independence scandal this country has ever seen. Trafigura, which until March was Tagwirei's partner in Trafigura Zimbabwe, moved 717 million litres of fuel through the pipeline in 2016, with volumes soaring to 639 million litres in 2017 and 768. Sometimes this happens at the same time. 18 picked up 30,733. Its spin doctors are still trying to spin the truth. Qingdao scandal:Trafigura’s case set for Hong Kong arbitration. , a subsidiary of Trafigura Beheer B. 99bn in Singapore. Themes Understand all the key topics and the context behind the Inquiry's findings. Image: Ok Tedi Mine CMCA Review. It says it informed the authorities and handed over discharges from washing out its oil tanks with caustic soda - known as slops - to a certified local company, Compagnie Tommy. This is the first time Trafigura has faced criminal charges since the toxic waste scandal unfolded in Ivory Coast's commercial capital, Abidjan, in 2006. Trafigura, Glencore and Vitol Ensnared in Brazil Bribery Scandal Peter Millard , Bloomberg News (Bloomberg) -- Brazil’s federal police are investigating oil trading giants Vitol, Trafigura and Glencore as part of a kickback scheme involving officials of Petroleo Brasileiro SA in the international trading of fuels. Trafigura and Vitol say the report is misconceived and retailers work within legal limits enforced in the countries. A new report published Tuesday, Sept. Trafigura Beheer, the multinational commodities trading company which is at the centre of a scandal in Jamaica, is embroiled in an investigation into a Zambian government minister. “It is a common occurrence for workers to faint from exhaustion, heat, fumes and poor nutrition during their shifts. On Friday, Twitterers claimed victory in a freedom of speech issue surrounding the oil trading company Trafigura. Trafigura’s head office is a less hierarchical place, even if that leads to what Weir and head of oil José Larocca both jokingly call “animated” discussions. Trafigura question shows that our free press is at risk Telegraph View: The attempt to suppress a question about the Trafigura affair is a threat to our Parliamentary democracy 7:46PM BST 13 Oct 2009. An investigation by the international magazine Energy Compass, last September indicated that the contract between Trafigura and Sonangol started in 2009. The company was thrust into the spotlight after it was revealed that it dumped toxic waste in West Africa, poisoning thousands of locals. "We warned that these agreements should never have been signed with Trafigura, it was too little," said Willy Neth, secretary general of the Ivorian League of Human Rights. Brazilian prosecutors have also charged two former executives of commodities trading giant Trafigura with corruption, and. Opposition Senator KD Knight, is blaming the Dutch oil firm Trafigura Baheer for the troubles its contribution has caused the People's National Party (PNP). According to one report, company officials themselves have "spoken enthusiastically about the process and its impact on Trafigura's reputation. In 2009, Trafigura agreed to pay 45 million dollars to settle a complaint brought by 30,000 victims in the U. Eric de Turckheim interviewed by Jeremy Paxman on the BBC's Newsnight - 16 August 2007 - about the Probo Koala scandal. A former Enemalta chief projects officer was yesterday charged with corruption in connection with the oil procurement scandal – the seventh to be arraigned in 10 days. One of Trafigura´s most infamous controversies involved an environmental scandal in Ivory Coast. Based on three years of research, the "Dirty Diesel" study highlights for the first time the pivotal role played by Swiss commodity trading companies in Africa's fuel industry and reveals the scandalous business model behind a supply chain completely controlled by these companies in their multiple roles as producers, suppliers, and — in some regions —operators of gas station networks. About 108,000 people sought treatment for nausea, headaches, vomiting and abdominal pains, and at least 15 died. View details and apply for this Graduate job in UK with PwC - Graduate on Milkround. Top executives of the international companies had “total and unequivocal” knowledge of Read moreWorld. VZCZCXYZ0002 PP RUEHWEB DE RUEHKG #2021/01 2851230 ZNY CCCCC ZZH. Trafigura launches libel action against Martyn Day, solicitor, for saying "We hold Trafigura fully to account for all the deaths and injuries that have resulted from the dumping of their waste". An Artificial Intelligence platform to calculate in real time the global perception towards financial assets. 01am , The Sunday Times. , registered in Curaçao, is the ultimate parent company. 2012 Libor price fixing scandal. Get the latest news and analysis in the stock market today, including national and world stock market news, business news, financial news and more. The majority of the world’s oil trading houses, including Vitol Trafigura, Glencore, and Mercuria have offices in Singapore where they rub shoulders with trading firms of oil giants, including Shell and BP in markets such as bunkering, or marine fuel. Trafigura is one of the leading oil traders in the world. Iran is the second-largest importer of gasoline in the world. Would the latest commodities scandal in 2020 finally serve to dent that reputation that Singapore has long worked hard to achieve? The Commodities Saga. Trafigura (5) Transworld (1) Truth about the Lie Banned (38) Truth for Madeleine (6) UEFA t-shirt campaign (1) UK Government cover up (4) UK police (5) Ullapool (1) Uncle Brian Kennedy (2) University Hospitals Leicester (23) University of Huddersfield (2) University of Leicester (1) Vanity Fair (1) Vernon Coleman (1) Vicky Boyd (1) Victims of. Wednesday, February 12th 2020 - 07:43 UTC World's largest oil traders investing in climate friendly projects, but profits remain a big question mark. That the internet is so hard to police is both a blessing and a curse. However, UN experts contend that the substance dumped in Abidjan contained hydrogen sulphide, which in concentrated doses can kill humans. A NEW report is calling on British authorities to investigate multinational oil trader Trafigura over a 2006 toxic waste dumping scandal that killed at least 15 people and affected tens of. 17, 2006, Tommy used trucks to dump waste at 17 sites in the city. Today, we shall be focusing on the “BOSTGATE” corruption scandal that occurred in the year 2017, but has been conveniently swept under the carpet by President Akufo-Addo who thinks Ghanaians. 4 percent this year; BW Group open to selling stake in DHT; Bunker company predicts significant price increase for low-sulfur oil in 2021; 29. UL], Trafigura [TRAFGF. Journalism & society. RIO DE JANEIRO/SAO PAULO (REUTERS) - Leading global oil traders Vitol, Trafigura and Glencore paid more than US$30 million (S$41 million) in bribes to employees at state-owned Brazilian company. Dezheng founder Chen Jihong was handed a 23-year jail term in late 2018. Just last November some in the coal world saw Kentucky-based Bowie Resource Partners as a kind of contrarian growth story. FCPA Compliance Guide. Trafigura buys finished product and looks for customers. 2 Based in Amsterdam, Trafigura Beheer. Trafigura paid Compagnie Tommy, a contractor in Abidjan, to dispose of the ship’s waste. A senior Trafigura source said Zhang, who had been trading derivatives with Trafigura since 2011 using collateral and credit backed by a local-government-backed firm, had accumulated losses of $32 million by late 2013 and agreed to a financing scheme with Tian and his Singapore-based gasoline team to settle the losses. New justice minister Sérgio Moro at a national forum on fighting corruption. As Kenya goes to the polls on 4 March 2013, the question uppermost in the minds of many, both locally and abroad, is this: if the election result is disputed, will the country slip into the kind of…. Those are just some details in a bribery scandal that rocked South Africa at the beginning of the decade, when it was discovered that Trafigura and its local joint venture partner, an African empowerment company called High Beam Investments, illegally paid out thousands of US dollars and promised millions more to government officials. Trafigura Beheer, the multinational commodities trading company which is at the centre of a scandal in Jamaica, is embroiled in an investigation into a Zambian government minister. The planets got a lot of notice because so many of them were in the "habitable zone" of the star (i. We had been made to believe he was the problem but he sold his shares in Trafigura yet the fuel problem is even worse. The majority of the world’s oil trading houses, including Vitol Trafigura, Glencore, and Mercuria have offices in Singapore where they rub shoulders with trading firms of oil giants, including Shell and BP in markets such as bunkering, or marine fuel. had contacts with an ex-Israeli Defence Forces officer who was later sanctioned by the U. BBC Newsnight has uncovered evidence revealing that oil-trading company Trafigura knew that waste dumped in Ivory Coast in 2006 was hazardous. Campaign group Public Eye says retailers are exploiting weak regulatory standards. Tag: Trafigura. ABOUT THE RISK & COMPLIANCE PORTAL. Dintre cele sapte oferte primite, cea mai buna din punct de vedere al pretului a fost cea a companiei olandeze "Trafigura", care a mai timis oferte catre compania din Apuseni si anii trecuti. Se välitti öljyä Angolasta Venäjälle ja myi metallia ja mineraaleja Sambiasta Mongoliaan. afrol News, 20 June - West Africans complaining about deteriorating quality of gasoline marketed in their country have proven to be right. TRAFIGURA, the trading company embroiled in the South African state oil kickback scandal, has close links with Marc Rich, the alleged fraudster who broke international oil sanctions against. Trafigura denied this and attempted to sue the programme for libel. A network to export illegal poor quality fuel into West Africa, headed by Trafigura, the company behind the toxic scandal in Côte d'Ivoire, is being exposed in Europe. Headquartered in Singapore, Trafigura is legally registered in Singapore. said that further legal action should. Sir Fred Goodwin, the former chief executive of the Royal Bank of Scotland (RBS), took out a super-injunction to stop newspapers publishing details of an affair with a colleague at RBS, a UK peer. Fourie, an investment banker, has served as head of Mergers and Acquisitions at Puma Energy, which is jointly owned by Trafigura and Sonangol and is the Zimbabwe partner of Tagwirei’s Sakunda Holdings. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may. Arms traffickers like Adnan Khashoggi, Mick Ranger or Viktor Bout don't file 10Q's with the SEC. Supreme Court […]. This is the first time Trafigura has faced criminal charges since the toxic waste scandal unfolded in Ivory Coast's commercial capital, Abidjan, in 2006. Using information from 30 sources, we have shipment and customs records, company overviews and contact information on over 10 million businesses worldwide. Trafigura is a private company incorporated under the law of the Netherlands in 1993, which according to its corporate web page ‘is the world’s third largest independent oil trader and the second largest independent trader in the non-ferrous concentrates market’. Commodities trader Trafigura Group Ltd. , registered in Curaçao, is the ultimate parent company. Foreign Corrupt Practices Act. Trafigura eventually paid Compagnie Tommy, a contractor in Abidjan, Ivory Coast, to dispose of the ship's waste. We develop new outlets for condensates, using Trafigura's diverse customer base that includes refineries, splitters and petrochemical facilities. Trafigura Group has set up a dedicated green-aluminium trading desk, betting that climate pressure will revolutionise the aluminium industry by splitting it in two. Commodities trader Trafigura [TRAFGF. Simpson-Miller, PNP Chairman, Robert Pickersgill and Region Three Chairman, Phillip Paulwell are the PNP officials who’ve been subpoenaed to court. 5 continents. 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. Global trading business Trafigura's settlement over allegations of toxic waste dumping is a major blow to the company's reputation. Browsing Tag. World’s biggest oil traders paid bribes in Brazil scandal -prosecutors admin August 17, 2020 RIO DE JANEIRO/SAO PAULO (Reuters) - Leading global oil traders Vitol [VITOLV. Compania Cupru Min SA Abrud vrea sa vanda la licitatie internationala 40. This allegation comes off the bat of Zenrock pledging financial stability following the Hin Leong Trading scandal last month. We thus begin with a brief description of Trafigura. It is the world's second largest private oil trader after Vitol and the world's largest private metals trader. Related: Winson Group and ZenRock Commodities reassure fiscal stability despite Hin Leong fiasco. UL] and Glencore paid more than $30 million in bribes to employees at state-owned Brazilian company Petrobras in a scheme that may still be going on, prosecutors said on Wednesday. Trafigura is an independent, employee-owned physical trading and logistics business. A free inside look at TechnipFMC salary trends based on 1,299 salaries wages for 543 jobs at TechnipFMC. "We moved from adolescence to. HSBC have purportedly recommended KPMG LLP to oversee ZenRock and a pre-trial conference is supposedly scheduled on June 11. I don't really blame David Cameron- because once the Lib Dems decided they would rather screw over the press than uphold free speech he simply didn't have enough MPs to resist the Labour. At the heart was a report, commissioned by Trafigura themselves into thedumping of slops. Trafigura Oil & Energy Singapore, Singapore 152,034 followers Trafigura is one of the world's leading independent commodity trading and logistics houses. Trafigura Group Pte. Commodities trader Trafigura [TRAFGF. 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. This article is based on a Feasibility Study of Case Management of Mass Disputes commenced at the request of The Hague Institute for Global Justice and finalized by the author in 2013. Trafigura, Vitol, Others Selling Dirty Diesel To Africa September 15, 2016 by Ghanaian Civil society group, the African Centre for Energy Policy, ACEP, has revealed through its partners, a Swiss NGO, Public Eye, how Swiss commodity trading firms are exporting what they call ‘dirty diesel’ to Africa. Trafigura scandal: Papers prove ship dumped toxic waste in Ivory Coast October 14, 2009 October 14, 2009 by Infinite Message to Trafigura for destroying the environment and people’s lives:. ” There are cruel and unique punishments and fining. Trafigura Group, a global commodities firm, reportedly agreed to give the government $1. Trafigura apparently sells most of its crude to the Chinese oil parastatal Sinopec. Sunday, The authorities claimed the pipeline was a cheaper option and imposed a levy that is payable to Trafigura which owns Sakunda. The report stated that the investigation began after invoices were published, allegedly showing that Sammut took payments on oil consignments from Dutch company Trafigura to Enemalta in 2004. An official Imopetro tender document for the supply of unleaded petrol, jet fuel and gasoil (diesel) in 2013 shows Vitol quoting as much as 28 per centmore than Glencore and 32 per cent than Trafigura. The world's largest oil. Factual background. After that scandal, it was encouraging to see Trafigura take a different course, one towards responsibility and transparency in their industry. Farringford N. The claim relates to the Probo Koala scandal, in which tonnes of toxic waste owned by Trafigura was dumped in Ivory coast by an unqualified local contractor. Tzankova, holds a personal Chair on Mass Claim Dispute Resolution at Tilburg University. Firmenich CEO, Gilbert Ghostine, receives Global CEO Award 2019 for his inclusive growth leadership and innovation. Compania Cupru Min SA Abrud vrea sa vanda la licitatie internationala 40. The company was founded in 1933 and deals primarily in basic metals, energy and oil. Blockbuster oil bribery scandal exposes corrupt double-dealing of Guaidó ‘attorney general’. "We warned that these agreements should never have been signed with Trafigura, it was too little," said Willy Neth, secretary general of the Ivorian League of Human Rights. Interesting that UK Master of the Rolls seems to believe. , but distribution was again corrupted – this time in a scandal that led to the May resignation of the Ivorian Minister for African Integration Adama Bictogo. VZCZCXYZ0002 PP RUEHWEB DE RUEHKG #2021/01 2851230 ZNY CCCCC ZZH. Delivery options and delivery speeds may vary for different locations. A former Enemalta chief projects officer was yesterday charged with corruption in connection with the oil procurement scandal – the seventh to be arraigned in 10 days. Since the Enron collapse an array of new laws and regulations has been adopted to tighten corporate oversight. We develop new outlets for condensates, using Trafigura's diverse customer base that includes refineries, splitters and petrochemical facilities. The most well-known episode is the 2006 dumping of more than half a million litres of toxic waste in open-air landfills in Ivory Coast, West Africa. The money has been provided as a short term loan with. Outrage about toxic dumping in Nigeria in 1988, led Côte d’Ivoire to adopt a law that provides for prison terms of up to 20 years and fines of up to $1. The claim relates to the Probo Koala scandal, in which tonnes of toxic waste owned by Trafigura was dumped in Ivory coast by an unqualified local contractor. Qingdao scandal:Trafigura’s case set for Hong Kong arbitration. Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals (iron ore and coal). 3m to officials at the Brazilian state oil company Petrobras, in return. We do not claim that this is a definitive guide to all facets of the industry. 2007 January Trafigura pay $198 million to Ivorian government to pay for environmental cleanup, but deny responsibility. Trafigura, a Swiss-Dutch company, reached out-of-court settlements for 33 million euros in 2009 and 152 million euros in 2007 in Britain and the Ivory Coast. 1000+ employees. For those who were not privy to tender opening details IPG had the most expensive quote in comingled crude oil which if awarded to them the. 2) Link to this censored report of Trafigura's activities. 3 million, between 2009 and 2014. Trafigura produced the waste on board the ship by using caustic soda to refine an extremely sulphurous petroleum product called coker naphtha. Houston, Texas • Managed and reported PnL and positions for US, Caribbean, and Central American fuel assets by providing exposure estimates, price. UL] and Glencore (GLEN. Commodities trader Trafigura Group Ltd. The planets got a lot of notice because so many of them were in the "habitable zone" of the star (i. had contacts with an ex-Israeli Defence Forces officer who was later sanctioned by the U. The USATF-certified 5K/10K race welcomes competitive runners, families, and dogs, for a morning of fun, family. Bell Pottinger, still argues “Trafigura has always done its business in an ethical and transparent manner. 5b spending plan, science panel recommends masks, virus found in wastewater This article brings you the latest updates on the novel coronavirus pandemic in Finland. “Trafigura is continuing to keep these matters under review and is taking the allegations. Trafigura are a Dutch oil trading firm and one of the world’s biggest independent oil traders. A 2012 Amnesty International and Greenpeace report The Toxic Truth documented the dumping of toxic waste in 2006 and limited government efforts to investigate it and hold Trafigura to account. Trafigura’s head office is a less hierarchical place, even if that leads to what Weir and head of oil José Larocca both jokingly call “animated” discussions. Last year, the contract covered 1. Trafigura also paid $50m (£32m) in an. Container lines blank more sailings in third quarter; Oil prices drop as second wave of infections hits. The contract—Trafigura’s last one in Angola—was for the rights to sell fuel oil. Photograph: Carl de Souza/AFP/Getty Images. Learn about Apollo Global Management's culture and open positions here. 1 cent higher at 15 cents on Thursday. Dezheng founder Chen Jihong was handed a 23-year jail term in late 2018. Trafigura eventually paid more than $200 million in settlements. By Daily transaction will give direct access of our share of oil produced domestically to the leading commodities trader, Trafigura, as. We do not claim that this is a definitive guide to all facets of the industry. Trafigura is hiring the world’s top traders into jobs offering immediate global mobility, the potential for rapid promotions, and a fast-paced working environment. Among its many related party transactions, Puma bought $596 milliom in oil from Trafigura last year. Strong Proven Financials: UPS clocked a commendable adjusted EPS growth of 14. The Risk & Compliance Portal is a collection of free anti-corruption compliance and risk management resources, including e-learning training, country risk profiles,and due diligence tools, produced by GAN Integrity,. We had been made to believe he was the problem but he sold his shares in Trafigura yet the fuel problem is even worse. Type of Crime: Antitrust Criminal Fine: $500 million 12 Corporate Crime Reporter 21(1), May 24, 1999. 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. The papers alleged links between Trafigura and Brasil Trade member Jorge Luz, who became known as the Deacon of Bribes in Brazil and was sentenced in October 2017 to 13 years and eight months for. The authority said the passage in the advert in which Trafigura said it 'always strives for positive economic and social involvement in the West African region' was 'misleading and unfair'. There is every reason to fear that the scandal that happened in Abidjan in 2006 could happen again today. Commodities trader Trafigura Group Ltd. In order foster a competitive environment that will interest new investors, a company needs to legally make profits and always provide clients with all the information. MPT Commodities. The saga of Trafigura, Carter-Ruck, The Guardian, Twitter Power and an indignant government, which broke messily all over the internet yesterday morning – well, that quite neatly eclipsed the latest installment in the MP’s expenses scandal, which had been rumbling on apace for most of Monday, and looked to be building up a good head of. 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. Leading global oil traders Vitol [VITOLV. The sheer weight of the campaign forced Trafigura to to drop the injunction entirely, allowing the details of their toxic dumping to be reported on after all but only after first creating a worldwide scandal about it. in FOX Business». Given that these upsetting numbers were being generated in the immediate aftermath of the international Trafigura oil waste scandal that repeatedly dominated international environmental headlines between 2006-2010, you’d be forgiven for thinking that Africa’s ongoing trash management issues might’ve reached their nadir in recent years. Trafigura It was not the first time prosecutors have zeroed in on Trafigura, a commodities trader based in Geneva. These shareholders estimate that Nyrstar has lost hundreds of millions because of onerous contracts with Trafigura. Trafigura Group Pte. Behind Trafigura is a little-known but wealthy group of London oiltraders, who have high-level connections in the Conservative party. Trafigura Beheer BV is registered in the Netherlands, while the Greek-owned vessel chartered by the company sailed under a Panamanian convenience flag. UL], Trafigura [TRAFGF. , registered in Curaçao, is the ultimate parent company. 1 billion towards the paying off of World Bank arrears. AMENDMENTS DONE AFTER THE SCANDAL The Enron scandal was certainly enough to show the American public and its representatives in congress that new compliance standards for auditing and public accounting were needed. In 2006, the Trafigura scandal resulted in the resignation of Colin Campbell as Information. THE ghost of the 2006 Trafigura scandal yesterday returned to haunt the Opposition People’s National Party (PNP) and, in particular, Colin Campbell as the Office of the Contractor General (OCG. Trafigura aside the other two are not scandal ridden like the other bidders, mostly Kenyan with scandalous pasts. The company has been involved in numerous scandals including UN sanctions busting in Iraq during the Oil for Food Programme and more famously the Abidjan toxic waste dumping scandal.