Oil-for-food food for thought

15 October 2004
US oil majors ExxonMobil Corporationand ChevronTexacoCorporationtogether with Texas-based El Pasohave been named in a report on the oil-for-food programme released in early October, according to the Washington Post.
US oil majors ExxonMobil Corporationand ChevronTexacoCorporationtogether with Texas-based El Pasohave been named in a report on the oil-for-food programme released in early October, according to the Washington Post.

The three were originally edited out of the report, composed by US weapons inspector Charles Duelfer. The programme has come under scrutiny since the Office of Foreign Assets Control announced that it was looking into whether any laws were broken. Several international companies and individuals are under investigation for allegedly using the vouchers to purchase Iraqi oil, which was then sold on for a profit. In a separate investigation, a federal grand jury in New York has subpoenaed a number of companies, including El Paso.

The UN's programme involved companies buying vouchers to buy Iraqi oil during the 1990s. It is alleged that Saddam Hussein used the programme as a means of obtaining bribes from companies that wished to purchase vouchers.

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