Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Algeria ex-minister wanted for corruption  Join our daily free Newsletter

MENAFN - Arab News - 14/08/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Chekib Khelil, Algeria's ex-energy minister and a once powerful figure in political and diplomatic circles, is now the target of an international arrest warrant for alleged corruption.

Khelil, 74, who attended the same school as President Abdelaziz Bouteflika in the western town of Tlemcen, is wanted along with eight others, including his wife and two sons, for "corruption, abuse of authority and belonging to an international criminal network," the public prosecutor said on Monday.

A former head of the Organization for Petroleum Exporting Countries had variously been presented as a "super minister," a "regime strongman" or even an "ultra liberal" before taking center stage for his alleged role in the corruption scandals around state energy firm Sonatrach that hit the headlines on January 2010.

On February 10, the public prosecutor in Algiers opened the "Sonatrach II" case, ordering an probe into possible corruption linked to contracts between the Italian ENI group and Sonatrach, in which Khelil was implicated.

Born in Oujda in Morocco in 1939, Khelil left for the United States in the 1960s where he earned a doctorate for petroleum engineering at the University of Texas, and eventually US citizenship.

In addition to Arabic and French, he also speaks English, Spanish and Portuguese, and has worked for Shell and Phillips Petroleum in the US before returning to Algeria where he became technical adviser to the presidency of Houari Boumediene from 1973 to 1976.

Khelil joined the World Bank in 1980 but returned to Algiers in November 1999 to work as adviser to Bouteflika, who a month later named him minister of energy and mines.

During his decade as minister, Khelil pushed through new legislation, including a controversial law in March 2005 concerning production sharing between Sonat-rach and its foreign partners.

Previously the production sharing system granted 51 percent of any oil deposits discovered to Sonatrach, and put the remaining 49 percent up for negotiation with foreign companies.

Khelil's 2005 law restored the concessions system that existed before Algeria's oil industry was nationalized, and stipulated that a foreign company would retain 100 percent ownership of new deposits it found.

The law also liberalized production, transport, refining and distribution, allowing foreign companies to import fuel refined outside Algeria for re-sale in the country.

As a result Sonatrach found itself on an equal footing with foreign petrochemical companies.

But Khelil's law was frozen for a year before being amended in 2006, and the government went back to the previous production sharing system, with new terms disadvantageous to Sonatrach, Algerian experts said.

The corruption scandal erupted in January 2010 and tainted Khelil's reputation, forcing him to resign.

But when a new probe was launched in February, he packed up and left for the United States - apparently a wise choice since the US does not have an extradition treaty with Algeria.

 


Arab News




  MENA News Headlines
 Mar 2 2015 - Oman's Napco plans USD18.11m capacity expansionMENAFN
(MENAFN) National Aluminium Products Co (Napco) plans to spend USD18.11 million to boost its capacity to basically increase volumes and market share, Muscat Daily reported.The company will install ...

 Mar 2 2015 - Dubai's real estate investors shift to low cost UK propertyMENAFN
(MENAFN) Dubai real estate investors are now among the largest groups of abroad nationals purchasing low-cost investment property in the UK, according to a new property survey, Arabian Business ...

 Mar 2 2015 - Etihad-staked Air Serbia logs USD3.02m net profit in 2014MENAFN
(MENAFN) Air Serbia, in which Etihad Airways holds a stake of 49 percent, logged a net profit of USD3.02 million for 2014, Arabian Business reported.In its first year of operation, Air Serbia logged ...

 Mar 2 2015 - Dubai's Abraaj invests USD145m in North Africa healthcareMENAFN
(MENAFN) Dubai-based private equity firm Abraaj Group is set to lead an investment of USD200 million in the new North Africa Hospital Holdings Group (NAHHG), Arabian Business reported.The firm, ...

 Mar 2 2015 - Egypt received USD23b aid from Gulf in 18 monthsMENAFN
(MENAFN) Egypt received USD23 billion in aid from Saudi Arabia, the UAE and Kuwait in the 18 months since former President Mursi was ousted, Investment Minister said, Reuters reported.According to ...

 Mar 2 2015 - Arab world's healthcare sector wastes USD40b annuallyMENAFN
(MENAFN) Half of the estimated USD80 billion annual governments spending on health care sector in the Arab world are going to waste due to widespread inefficiencies, a Dubai health official said, The ...

 Mar 2 2015 - Zain KSA records USD293.16m EBITDA growth in 2014MENAFN
(MENAFN) Zain KSA posted improved financial results hitting USD293.16 million in EBITDA in 2014, up from USD237.19 million in 2013, marking 24 percent increase, Saudi Gazette reported.Zain's net ...

 Mar 2 2015 - Egypt to attract USD8b of foreign direct investment in this fiscal yearMENAFN
(MENAFN) Egypt is forecast to receive a sum of foreign direct investment worth USD8 billion in this financial year, marking an increase from the USD4 billion last year, Reuters reported.The Egyptian ...

 Mar 2 2015 - Qatar, Mitsubishi to sign USD1.09b hydroelectric dealMENAFN
(MENAFN) State-controlled Qatar Electricity and Water Company (QEWC) is set to sign a USD1.09 billion contract to build the Gulf country's largest power and water plant to Mitsubishi, Emirates 24\7 ...

 Mar 2 2015 - Egypt's Edita eyes USD262m initial offerMENAFN
(MENAFN) Egyptian food maker Edita is considering an initial offering of about USD262 million the Cairo bourse, Reuters reported.According to sources, trading is forecast to start at the beginning of ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help