Chevron Seen Settling Case on Iraq Oil

[maddezmom]

Source: New York Times

By CLAUDIO GATTI and JAD MOUAWAD
Published: May 8, 2007

Chevron, the second-largest American oil company, is preparing to acknowledge that it should have known kickbacks were being paid to Saddam Hussein on oil it bought from Iraq as part of a defunct United Nations program, according to investigators.

The admission is part of a settlement being negotiated with United States prosecutors and includes fines totaling $25 million to $30 million, according to the investigators, who declined to be identified because the settlement was not yet public.

The penalty, which is still being negotiated, would be the largest so far in the United States in connection with investigations of companies involved in the oil-for-food scandal.

The $64 billion program was set up in 1996 by the Security Council to help ease the effects of United Nations sanctions on Iraqi civilians after the first gulf war. Until the American invasion in 2003, the program allowed Saddam’s government to export oil to pay for food, medicine and humanitarian goods.



Read more: http://www.nytimes.com/2007/05/08/business/08chevron.html?_r=1&hp&oref=slogin

[JTFrog]

1. Of course

this was during Condi's watch. Has this woman ever accomplished anything positive?

They have the subpoena, get this woman on the stand and then put her in jail for the rest of her life with her pet monkey.

[maddezmom]

2. this predates Condi's tenure

[JTFrog]

3. Are you sure?

According to the Volcker report, surcharges on Iraqi oil exports were introduced in August 2000 by the Iraqi state oil company, the State Oil Marketing Organization. At the time, Condoleezza Rice, now secretary of state, was a member of Chevron’s board and led its public policy committee, which oversaw areas of potential political concerns for the company.

Ms. Rice resigned from Chevron’s board on Jan. 16, 2001, after being named national security advisor by President Bush.

[maddezmom]

4. looks like your correct

I was just thinking of her stint as NSA :D

[JTFrog]

5. Well they

didn't name a tanker after her for nothing ya know :)