Feds Want Baker Hughes' Iraqi Oil Info
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Oil services company Baker Hughes Inc.  BHI.N on Friday said U.S. market regulators have demanded  information on its involvement in a now defunct Iraqi  oil-for-food program, joining a growing list of companies under  scrutiny for their role in the program.
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The US government will set up an inquiry into Iraq contracts given to Halliburton, the former firm of Vice President Dick Cheney.
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U.S. handling of Iraq's oil  money after the defeat of Saddam Hussein was marked by  weaknesses including problems tracking oil production and cash,  a watchdog told the U.N. Security Council on Friday, diplomats  said.
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The U.S. ambassador to Kuwait and other senior U.S. officials put pressure on Halliburton to award a contract to a Kuwaiti company suspected of overcharging to bring fuel into Iraq, according to State Department documents released on Wednesday.
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CALGARY, Alberta  - Iraq's oil ministry has called  for new bids to develop an oil field in the war-torn country,  blindsiding the Canadian company that appeared to have won the  contract, a top executive with the firm said on Friday.
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As investigators continued their probe into the scandal-tainted U.N. oil-for-food program in Iraq, the Associated Press learned on Sunday that at least two Swiss trading companies paid kickbacks to secure contracts to buy oil from Saddam Hussein.
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Internal audits sent to the director of the Iraq oil-for-food program uncovered extensive mismanagement of multimillion-dollar deals with contractors and fraudulent paperwork by its employees, according to copies of some of the reports obtained by The Associated Press.
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A Jordanian oil firm sought approval from a U.S.-led international naval force to import millions of barrels of Iraqi crude through the Persian Gulf in violation of U.N. sanctions in February 2003, according to an internal company e-mail released Wednesday.
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Britain's Serious Fraud Office is investigating allegations that several firms based in London paid bribes to former Iraqi dictator Saddam Hussein's regime as part of the discredited UN oil-for-food programme, The Guardian has reported.
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IRBIL, Iraq -- Two weeks after the United States launched an ambitious security plan for Iraq, then-U.S. Ambassador Zalmay Khalilzad issued an enthusiastic announcement about progress toward an Iraqi oil law, a key American goal.
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JAKARTA, Indonesia -- The Organization of Petroleum Exporting Countries has asked the United States to use its strategic petroleum reserves to help reduce oil prices, the cartel&#39;s president said Wednesday.
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Washington&#39;s ambassador to the United Nations has urged Secretary-General Kofi Annan to promptly release all information concerning the scandal-ridden Iraq oil-for-food program.
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A primer on the oil-for-food accusations
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The oil deal signed between Hunt Oil and the government in Iraq's Kurdish region earlier this month has raised eyebrows, in no small part because it appears to undercut President Bush's hope that Iraq could draft national legislation to share revenue from the country's vast oil reserves. Making the...
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The Bush administration said Thursday it is weighing a request from several U.S. refiners to borrow crude oil from the nation's emergency stockpile to help offset supply disruptions along the Gulf Coast from Hurricane Ivan.
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Paul Volcker, the former chairman of the Federal Reserve Board who heads a panel investigating charges of corruption in the United Nations&#39; oil-for-food program in Iraq, says that his inquiry is encountering some resistance and slow sharing of information
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BAGHDAD, July 3 -- Iraq's cabinet has again approved draft legislation establishing a framework to manage the country's vast oil resources, Prime Minister Nouri al-Maliki said Tuesday, but has not yet acted on a potentially more contentious companion law that would govern the distribution of oil...