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Oil conspiracies touch many countries........

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posted on Jun, 20 2005 @ 09:18 PM
The obvious targets when talking about Big Oil and conspiracies, the mammoth American companies and oil rich regimes like the House of Saud, well they're not the only guilty parties. Niko Resources, a Canadian company was found responsible for a massive fire it caused in Bangladesh, the government of Bangladesh had allowed the company to explore for reserves but after the fire Niko was ordered to pay fines. How did Niko resources try to get around the fines? By bribing that nations Energy Minister, A.K.M. Mosharraf Hossain.

Media reports said Hossain had accepted a brand new Toyota Land Cruiser Cygnus from Niko Resources in return for delaying a multimillion dollar compensation claim.
The gas exploration company had been found responsible for a fire at a Bangladeshi gas field in January that reportedly caused damage of at least 10 billion cubic feet of gas worth about US$2.5 million (€2.03 million). The government has been seeking compensation.
Hossain was alleged to have delayed realization of the payment, the New Age daily said.

Other allegations against the Energy Minister include taking stances against government interests in favor of deals with Canadian companies like Niko, and other outside groups. Corruption in that poor nations energy exports has run rampant.

Another story on this corruption.

Taking benefit from Canadian company Niko Resources in the form of a highly expensive Toyota Land Cruiser Cygnus was a pretext for his ouster, the sources believe.
The reasons behind Mosharraf's 'resignation' on Saturday under orders from the prime minister include his resistance to assurance of 20 years of gas supply for Indian giant Tata's investment in Bangladesh, while advocating export of gas to India through a new deal. This had angered the Board of Investment and a powerful lobby in the ruling BNP, they pointed out.
Mosharraf had always sided with foreign companies on issues of state interests like Magurchhara gas blowout compensation claims, financial disputes or even the deal with Niko Resources. In some cases, he made certain quarters in the government happy but in others he had embarrassed the government, the PMO sources mentioned.
Mosharraf's interference in all the nine affiliates of Petrobangla, where he appointed several dozens of corrupt officials, was another reason. These appointments went against government policy, obstructed restoring order in the affiliates and drained out hundreds of crores of taka in bribes.

The corruption is almost amazing in scope, from private firms handing out expensive SUV's to state run oil companies missing billions of dollars. Take a look at the centralization of the oil industry in Venezuela by Hugo Chavez and the leaking of billions in state money.

CARACAS - Its profits may be at record highs, but the engine of Venezuela's economy -- the government's Petróleos de Venezuela SA (PDVSA) oil company -- is also facing complaints of missing billions of dollars, production shortfalls and mismanagement.
And while PDVSA is pumping billions of dollars directly into President Hugo Chávez's social welfare programs to alleviate poverty, some experts fear that it is sacrificing the long-term viability of the company and its oil exports.
The complaints have led opposition lawmakers to call for an independent audit of the company, even as the government has begun pushing foreign oil companies for higher royalties and back taxes and is considering a sale of parts of Citgo, which owns refineries in the United States with a capacity for 900,000 barrels per day, plus 14,000 independently run gas stations.

The reason I feel this important to point out is that the corruption that runs rampant in the oil industry is not confined to just America or the middle east. The oil conspiracies touch the wealthiest and the poorest of nations, they start out in board rooms and meetings at many nations oil companies and reach all over the world. Secret bribery deals and greased palms seem to be the norm for nearly all the world's oil companies. Chances are no matter what country you're in there's some backroom shady dealings going on in your countries energy companies and or it's government. You can't be content to believe every oil conspiracy leads right to the doorstep of the American White House, there are theives, liars, and corrupt politicians the world over.

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