NOVEMBER 11, 2005
Vitol - Masefield AG - Sonia Gandhi $16.8 m
Oil or grease? Vitol - Masefield AG - Sonia Gandhi (one million barrels $16.8 m)
Here are the key contact details for Vitol. In the chart appended to the Deccan Chronicle report (Nov. 12, 2005), Volcker report cites the LCs assigned by BNP Paribas SA for each oil lift, and information sourcd through SECO.
Volcker report Table 4 notes two contracts and two LCs.
1. Contract No. M/10/57 (LC N 731924); and Table 3 provides details of Non-contractual beneficiaries. On this LC, VOlcker report claims Masefild AG lifted oil against contract M/10/57 for a non-contractual beneiciaty it claims was the CONGRESS.
2. Contract No. M/09/54 (LC D726806); and Table 3 of Volcker Report claims Masefild AG lifted oil against contract M/09/54 for a non-contractual beneficiary it claims was former external affairs minister NATWAR SINGH.
Now the questions to be answered by Antonia Maino (aka Sonia Gandhi, President of Congress Party) are:
1. When did Congress Party register with Govt. of India as a oil-dealer or oil-broker?
2. Why is Congress Party interested in acquiring oil?
3. Is it unhappy with the likes of Reliance or IOC or other oil companies operating in Bharat?
4. Is Congress Party a public or private limited or privately-held company?
It is one thing to claim comraderie between Baathist Party and Congress Party as two parties representing two great civilizations (assuming that the representation is true); it is quite another to follow up the two letters Sonia Gandhi (aka Antonia Maino, President of Congress Party) wrote to Saddam Hussein with special meetings between Natwar Singh (and his comrades) with Tareeq Aziz and Saddam Hussein.
What benefit did Bharat receive from this international dealing by Congress Party without getting prior permission from the 'executive' branch of the then government in powe in Bharat to meet foreign dignitaries in Iraq?
Sonia, aka Antonia, come clean. There is a lot of cleaning-up called for. Pathak commission or inquiry authority will not be this clean-up.
5. Why hasn't an FIR beeen lodged against the President of Congress Party in this act of financial impropriety causing loss to the nation's exchequer?
6. Answer this simple question of fact: did Congress Party did or did not receive the benefit cited in Volcker Reprot as a non-contractual beneficiary, through Masefield AG/Vitol financial link-up? (We are assuming that oil did get delivered by the Congress Party).
7. What oil? What grease?
Vitol Asia Pte Ltd., India Liaison Office
617 Maker Chambers V, 6th Floor, 221 Jamnalal Bajaj Road, Nariman Point, Mumbai 400 021 India
Tel (91 22) 2288 5615
Tel (91 22) 2287 5069
Tel (91 22) 2283 1843
Fax (91 22) 2287 5070
Tlx 1183786
A VITOL CLUE
New Delhi, Nov. 11: The Volcker Committee report on the Iraq-oil-for-food programme has alleged that a global oil trading company named Vitol is the "underlying financier" for the oil barrels allegedly lifted by Masefield AG of Switzerland.
Masefield is the company that the Volcker report claimed had lifted oil for the Congress and former external affairs minister K. Natwar Singh, who it listed as "non-contractual beneficiaries" in the Iraq oil-for-food programme.
The UN-ordered probe report defines "underlying financier" as the "entity or party assuming financial responsibility for letters of credit (LC) used to buy oil in the programme..." A letter of credit links a company to the recipients of moneys.
Vitol is a global company involved in physical oil marketing with offices in many countries. It has an India liaison office at Maker Chambers V, Nariman Point, Mumbai. When the Vitol India liaison office was contacted by this newspaper in Mumbai on Friday, a Mr Sumeru Hattiramani there said he knew nothing of this matter and referred this newspaper to their Singapore office.
The office of Vitol Singapore Pte Ltd, when called, said it would not comment on anything and asked for a written set of questions to be faxed to them. This was done on Friday and this newspaper was awaiting a response from them at the time of going to press.
Both, the Congress and Mr Natwar Singh, have repeatedly denied any connection to the Iraq oil-for-food programme. The Volcker report has said the persons or entities who made surcharge payments may not have been aware that their payments were in contravention of the UN guidelines for the oil-for-food programme.
Table 3 of the Volcker report, titled "Non-Contractual Beneficiaries", has given contract number M/10/57 for the transaction it claimed involved Masefield AG and for which it alleged the Congress party was the "non-contractual beneficiary". In the case of its allegations against Mr Natwar Singh, the Volcker Committee says one of two contract numbers for the oil transactions was M/09/54. Both contract numbers next appear in Table 4, titled "Known Underlying Oil Financiers", and are listed under "Underlying Financier VITOL". The entries in Table 4 also mention Masefield AG as the "contracting company".
Table 4 claims Vitol was the "underlying financier" for the contracting company Masefield AG for "contract number M/10/57". Against this, it lists letter of credit number N731924 for the lifting of 1,000,896 barrels of oil for LC amount $16,808,457. This is the same contract number as that listed under the Congress party's name (against Masefield AG) in Table 3 of non-contractual beneficiaries.
Against contract number M/09/54 it lists letter of credit number D726806 for contracting firm Masefield AG for the lifting of 300,000 barrels of oil for LC amount $5,669,919. This contract number is the same as that listed under Mr Natwar Singh's name (against Masefield AG) in Table 3 of non-contractual beneficiaries.
Here are the key contact details for Vitol. In the chart appended to the Deccan Chronicle report (Nov. 12, 2005), Volcker report cites the LCs assigned by BNP Paribas SA for each oil lift, and information sourcd through SECO.
Volcker report Table 4 notes two contracts and two LCs.
1. Contract No. M/10/57 (LC N 731924); and Table 3 provides details of Non-contractual beneficiaries. On this LC, VOlcker report claims Masefild AG lifted oil against contract M/10/57 for a non-contractual beneiciaty it claims was the CONGRESS.
2. Contract No. M/09/54 (LC D726806); and Table 3 of Volcker Report claims Masefild AG lifted oil against contract M/09/54 for a non-contractual beneficiary it claims was former external affairs minister NATWAR SINGH.
Now the questions to be answered by Antonia Maino (aka Sonia Gandhi, President of Congress Party) are:
1. When did Congress Party register with Govt. of India as a oil-dealer or oil-broker?
2. Why is Congress Party interested in acquiring oil?
3. Is it unhappy with the likes of Reliance or IOC or other oil companies operating in Bharat?
4. Is Congress Party a public or private limited or privately-held company?
It is one thing to claim comraderie between Baathist Party and Congress Party as two parties representing two great civilizations (assuming that the representation is true); it is quite another to follow up the two letters Sonia Gandhi (aka Antonia Maino, President of Congress Party) wrote to Saddam Hussein with special meetings between Natwar Singh (and his comrades) with Tareeq Aziz and Saddam Hussein.
What benefit did Bharat receive from this international dealing by Congress Party without getting prior permission from the 'executive' branch of the then government in powe in Bharat to meet foreign dignitaries in Iraq?
Sonia, aka Antonia, come clean. There is a lot of cleaning-up called for. Pathak commission or inquiry authority will not be this clean-up.
5. Why hasn't an FIR beeen lodged against the President of Congress Party in this act of financial impropriety causing loss to the nation's exchequer?
6. Answer this simple question of fact: did Congress Party did or did not receive the benefit cited in Volcker Reprot as a non-contractual beneficiary, through Masefield AG/Vitol financial link-up? (We are assuming that oil did get delivered by the Congress Party).
7. What oil? What grease?
Vitol Asia Pte Ltd., India Liaison Office
617 Maker Chambers V, 6th Floor, 221 Jamnalal Bajaj Road, Nariman Point, Mumbai 400 021 India
Tel (91 22) 2288 5615
Tel (91 22) 2287 5069
Tel (91 22) 2283 1843
Fax (91 22) 2287 5070
Tlx 1183786
A VITOL CLUE
New Delhi, Nov. 11: The Volcker Committee report on the Iraq-oil-for-food programme has alleged that a global oil trading company named Vitol is the "underlying financier" for the oil barrels allegedly lifted by Masefield AG of Switzerland.
Masefield is the company that the Volcker report claimed had lifted oil for the Congress and former external affairs minister K. Natwar Singh, who it listed as "non-contractual beneficiaries" in the Iraq oil-for-food programme.
The UN-ordered probe report defines "underlying financier" as the "entity or party assuming financial responsibility for letters of credit (LC) used to buy oil in the programme..." A letter of credit links a company to the recipients of moneys.
Vitol is a global company involved in physical oil marketing with offices in many countries. It has an India liaison office at Maker Chambers V, Nariman Point, Mumbai. When the Vitol India liaison office was contacted by this newspaper in Mumbai on Friday, a Mr Sumeru Hattiramani there said he knew nothing of this matter and referred this newspaper to their Singapore office.
The office of Vitol Singapore Pte Ltd, when called, said it would not comment on anything and asked for a written set of questions to be faxed to them. This was done on Friday and this newspaper was awaiting a response from them at the time of going to press.
Both, the Congress and Mr Natwar Singh, have repeatedly denied any connection to the Iraq oil-for-food programme. The Volcker report has said the persons or entities who made surcharge payments may not have been aware that their payments were in contravention of the UN guidelines for the oil-for-food programme.
Table 3 of the Volcker report, titled "Non-Contractual Beneficiaries", has given contract number M/10/57 for the transaction it claimed involved Masefield AG and for which it alleged the Congress party was the "non-contractual beneficiary". In the case of its allegations against Mr Natwar Singh, the Volcker Committee says one of two contract numbers for the oil transactions was M/09/54. Both contract numbers next appear in Table 4, titled "Known Underlying Oil Financiers", and are listed under "Underlying Financier VITOL". The entries in Table 4 also mention Masefield AG as the "contracting company".
Table 4 claims Vitol was the "underlying financier" for the contracting company Masefield AG for "contract number M/10/57". Against this, it lists letter of credit number N731924 for the lifting of 1,000,896 barrels of oil for LC amount $16,808,457. This is the same contract number as that listed under the Congress party's name (against Masefield AG) in Table 3 of non-contractual beneficiaries.
Against contract number M/09/54 it lists letter of credit number D726806 for contracting firm Masefield AG for the lifting of 300,000 barrels of oil for LC amount $5,669,919. This contract number is the same as that listed under Mr Natwar Singh's name (against Masefield AG) in Table 3 of non-contractual beneficiaries.
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