IRAN ENERGY PROJECT

IRAN ENERGY PROJECT


http://www.defenddemocracy.org/index.php?option=com_content&view=article&id=11785034&Itemid=388



Since the publication of these articles, and additional op-eds by FDD's Cliff May and Reuel Marc Gerecht, the major suppliers of gasoline to Iran have come under congressional scrutiny. One supplier, Reliance Industries Ltd. of India, did not ship gasoline to Iran in February and March 2009 after members of Congress called for an investigation of loan guarantees provided by the U.S. Export-Import Bank to help Reliance expand a refinery where it was refinining petroleum for sale to Iran. According to recent reports, however, Reliance has resumed shipments to Iran. A second supplier, British Petroleum, stopped its own shipments after deciding that the company's extensive North American business interests were more valuable than the Iranian market. A bipartisan group of Members of Congress has also asked Energy Secretary Chu to review a $50 million contract awarded to the Swiss company Vitol, Iran's largest supplier of gasoline, and to consider debarring Vitol for its role in the United Nations Oil for Food scandal.

http://www.ril.com/downloads/pdf/PR17092009.pdf


Sale of RIL shares by Petroleum Trust
Mumbai, 17th September 2009: Petroleum Trust sold 1,50,00,000 equity shares of the
Company today. Reliance Industrial Investments and Holdings Limited, a wholly owne
subsidiary of RIL, is the sole beneficiary of the Trust.
The sale of the said shares was executed today and will be settled on the stock exchanges.
The Trust will realize approximately Rs.3,188 crore, at an average price of about Rs. 2125
per share. The shares are carried in the books at a cost of Rs.158 per share by the Trust. The
financial impact will be reflected in the consolidated statements of the Company.
DSP Merrill Lynch Limited and Citigroup Global Markets India Private Limited acted as
joint arrangers for the seller.
This announcement is not an offer for sale of securities in the United States. The securities referred to
herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be
sold in the United States absent registration or an exemption from registration under the U.S
Securities Act of 1933, as amended. The Trust does not intend to register any part of the offering in
the United States or to conduct a public offering of securities in the United States.
Nothing in this announcement constitutes an offer of securities for sale in any jurisdiction where it is
unlawful to do so.

So British Petroleum values American interest and Merrill Lynch and Citigroup don’t.

http://www.vitol.com/careers.php


Who are we? What do we do?


The Vitol Group is one of the largest independent energy trading groups in the world and operates through a global group of companies.


Although mainly a physical oil trader, the Group is now broadly based with active trading operations in gas, coal, power, non-ferrous metals, derivatives and sugar.


Essentially, we trade energy; we create markets for fuel products; we deliver cargoes, safely, on-specification and on-time; we provide extensive terminal and storage facilities; and we engineer innovative financial structures to the benefit of our clients.
Through the Vitol Foundation, we are also active in charitable funding to benefit severely deprived children in Asia, Africa, Latin America, CIS and Eastern Europe.
Where are we?
We have offices all over the world, with the majority of our people located in the six key locations of Geneva, Houston, London, Moscow, Rotterdam and Singapore.
We are active wherever our customers and the markets dictate, and this inevitably gives rise to some exciting, challenging and rewarding career assignments and opportunities.
What makes us different?
Despite our size and global reach, we are a proudly independent business. Our shares are owned by many of our employees, instilling a culture of collective ownership and responsibility.
We have no external shareholders, so are unfettered by outside interests, agendas or expectations. We are masters of our own destiny and place considerable responsibility on every member of our team.
This translates directly into the way we work: we enjoy a flat management structure and a refreshing absence of bureaucracy. We’re passionate about what we do and are dedicated to maintaining the company’s excellent reputation worldwide.
Above all, we’re a meritocracy: we recognise talent and reward it accordingly. Not surprisingly, this environment has created motivated, loyal and long-serving teams.

How do we work?


A career at Vitol provides the opportunity to experience and learn about all facets of our business. For example, trading assistants may gravitate towards Financial or Physical Operations, en route to becoming traders.


Our people also move between business units, which encompass everything from Crude Oil and Natural Gas to Coal, Carbon Emissions, Shipping and Gasoline. They also find there are frequent opportunities to work in overseas offices to develop a global view of the business.


Typically, each business unit has a core team of:


• a Trader


• a Trading Assistant, whose primary responsibility includes knowing our trading positions at any one time


• an Operator, whose role includes controlling physical movements around the world


• a Financial Operator, in charge of invoicing and contracts
The Vitol Group:


• Revenues of $191bn (2008)


• Equity value in 2008 of $5.3 bn


• Banking with over 90 institutions


• Investment grade


We complement this strength with a sophisticated financial team, drawing on long experience and knowledge to engineer innovative financial structures for the benefit of our clients.


We also meet our clients’ insurance needs through our wholly owned subsidiary Anchor Insurance, offering an extensive portfolio of risk management tools.




http://www.anchorinsurance.nl/site1062/index.jsp?USMID=17&INC=99

Anchor Insurance Rotterdam is experienced in every facet of alternative risk financing, such as the setting up and management of, so-called Captive Insurance Companies outside the Netherlands. At the same time, Anchor Insurance Rotterdam can advise companies and institutions about every aspect of insurance management, including social insurance, employee benefits and pensions.





This is big money and worthy of farther notice. My red flag is insurance management, including social insurance, employee benefits and pensions. This goes to all sorts of other concerns especially with insurance company issues currently happening. Worthy of note is Anchor and Vitol, because it’s PRIVATE money and because of that their books are not open to grave scrutiny. That’s the idea. Going back to the top Energy Secretary Chu to review a $50 million contract awarded to the Swiss company Vitol, Iran's largest supplier of gasoline, and to consider debarring Vitol for its role in the United Nations Oil for Food scandal. Mr Chu is a reputable man from what I found researching him.