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U.S. says $1 billion linked to Venezuelan energy corruption scheme

Venezuelan energy corruption scheme

U.S. authorities have traced over $1 billion to a conspiracy involving a Venezuelan magnate who allegedly paid bribes to obtain contracts from Venezuelan state oil company PDVSA, according to U.S. court papers made public on Monday. The details came a day after the U.S. Justice Department confirmed that authorities had arrested Roberto Rincon, a Venezuelan citizen who is president of ...

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Iran says Russia to begin building two nuclear plant units next week

Pilgrim nuclear power plant

BEIRUT – Russia will begin building two nuclear power plant units in Iran next week, Mehr news agency quoted an Iranian nuclear official as saying, under a deal signed in Moscow last year between subsidiaries of the two countries’ state atomic agencies. The Mehr report did not elaborate but the comments by Behrouz Kamalvandi, spokesman for the Atomic Energy Organization of ...

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U.S. makes arrests over Venezuelan energy corruption scheme

Venezuelan energy corruption

Two men have been arrested on charges related to an alleged scheme to corruptly secure energy contracts from Venezuela’s state-owned energy company, the U.S. Justice Department said Sunday. Roberto Rincon, the president of Texas-based Tradequip Services & Marine, was arrested on Wednesday in Houston on charges including that he violated the Foreign Corrupt Practices Act and engaged in money laundering, ...

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Leviathan partners preparing to develop gas field

The gas partnerships of Yitzhak Tshuva today announced that they were preparing to development the Leviathan natural gas reservoir, a few hours after Prime Minister Benjamin Netanyahu signed the gas agreement. “Delek Drilling Limited Partnership (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) are committed to the agreements in the gas plan, and to Israeli society as a ...

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Britain follows Paris deal with cuts to green subsidies

Construction work is seen being undertaken at a field of solar panels near Andover in southern England May 3, 2013. REUTERS/Toby Melville

LONDON – Britain cut more renewable energy subsidies on Thursday, putting jobs at risk and drawing criticism for losing credibility in tackling climate change, a week after the landmark deal in Paris. Britain’s Conservative government has been reining in spending on all renewables subsidies since it took power in May, saying the cost of technology has come down sharply and ...

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Canada’s Trudeau leaves room for oil pipelines to gain local approval

Canada's Prime Minister Justin Trudeau speaks during a news conference with aboriginal leaders on Parliament Hill in Ottawa, Canada, December 16, 2015. REUTERS/Chris Wattie

VANCOUVER – Canada’s government sounded another note of opposition to a proposed oil pipeline in the country’s west coast, though he appeared to leave the door open to allowing proponents to acquire the needed local approval for projects to go ahead. The newly elected Liberal government campaigned on a promise to toughen up the environmental review process for oil pipelines and ...

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Low oil prices drop Gulf Arab defense spending

DUBAI – Low oil prices are eating into defense spending in the Gulf region, one of the world’s largest arms markets, with budgets trimmed for the first time in a decade this year and deeper cuts expected in 2016, according to a report published on Thursday. Overall spending fell to $81.6 billion in 2015 from $86.7 billion last year, London-based ...

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