Azerbaijan oil cash lost in the shadows

[unhappycamper]

http://atimes.com/atimes/Middle_East/MID-01-121213.html



Azerbaijan oil cash lost in the shadows
By Charles Recknagel
Dec 12, '13

A new report on Azerbaijan's oil industry documents how millions of dollars of revenue disappear into the hands of obscurely owned private companies with the apparent cooperation of the government-controlled state oil company.

The report by the NGO Global Witness, presented in London on December 10, found a pattern in Azerbaijan's oil industry of partnering with shadowy companies that make hundreds of millions of dollars handling oil but whose business role remains unclear:

"Little-known private individuals, private companies, have been inserted into the oil industry of Azerbaijan, and nobody knows who these people are or why they have been included," says Tom Mayne, a lead researcher in the yearlong investigation.

The report details in particular the case of one individual who offers a clear example of the pattern. He is Anar Aliyev, a 35-year-old Azerbaijani entrepreneur who has created multiple offshore companies that either hold contracts with or engage in joint ventures with Socar, Azerbaijan's state oil company.

[dipsydoodle]

1. The US turns a blind eye to bent elections there.

Easy subject to search.

Its disgusting.