INDEPENDENT NEWS

BP's 'Con-Tract' Of The Century - Spinwatch Report

Published: Wed 1 Dec 2004 10:03 AM
BP's 'Con-Tract' Of The Century - Spinwatch Report
A six month SpinWatch investigation into BP's ''Con-Tract of the Century'' reveals how:
* There is a major design flaw on one of the world's most strategic oil pipelines, the Baku-Tblisi-Ceyhan pipeline, that could lead to an environmental disaster;
* BP improperly secured a $2.6 billion loan to build the 1,000 mile pipeline, despite the design flaws;
* BP misled a British parliamentary inquiry about the pipeline's safety;
* New Labour's proximity to BP has undermined its regulatory responsibilities;
The SpinWatch investigation also exclusively reveals breaking news that the bank consortium led by Italy's largest bank, Banca Intesa, has pulled out over concerns about safety flaws and reputation risk.
Notes to editors:
Read the full SpinWatch version at:
http://spinwatch.server101.com/modules.php?name=Content=showpage=328
Contact SpinWatch on info@spinwatch.org
Michael Gillard, the author of the SpinWatch investigation is an award-winning journalist.
ENDS

Next in Comment

Dunne's Weekly: Time To Slay The Traffic Management Monster
By: Peter Dunne
‘Wishful Thinking’ - Does Israel Have All The Cards In Gaza?
By: Ramzy Baroud
On Why The Biden “peace Plan” For Gaza Is Doomed
By: Gordon Campbell
On How Moderates Empower The Political Right
By: Gordon Campbell
Neglect Public Health At New Zealanders’ Peril
By: Ian Powell
Welcome To NZ – Now Pay Up: The Risks And Rewards Of Raising The Foreign Tourist Tax
By: The Conversation
View as: DESKTOP | MOBILE © Scoop Media