Top managers at the Hydrocarbons Company involved in a shady agreement

Oran criminal court (western Algeria) started hearing yesterday 6 top managers involved in the financial scandal that shook the Algerian hydrocarbons company “ SONATRACH” last April in relation with a shady agreement between the company’s downstream activities and a dummy one concerning the acquisition of office stationeries.

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• The hearings revealed several gross misconducts from the convicts who dealt with a company that doesn’t fulfil the legal requirements for this type of agreements and public fund squandering.
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• The convicts have selected a company out of 11 others as a part of a call for tender to supply them with furniture and office stationeries for the downstream activities’ premises. The total cost of the supplies was estimated at 200 thousand Euros.
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• After discussing the offers, the managers have excluded 5 tenders and chose a company that stopped its activities since a year whose capital doesn’t exceed 5 thousand Euros.
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• The scandal coincided with the LNG Summit hosted by the western capital city last April, where the managers were racing against time to renew the furniture of their premises and supply their employees with office stationeries.
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• The public prosecutor has indicated that this scandal has dragged the company’s name through the mire and was shocked to the fact that the managers have sealed a deal with a company whose capital doesn’t exceed 5 thousand Euros.
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