Another bogus contract in Iraq revealed 
An Iraqi Swiss-based expert unveiled Saturday that the government of Prime Minister Nouri Al-Maliki has signed a $6 billion contract with a bogus company.
On October 10  al-Maliki announced that his government has signed the contract to build and operate a 150,000 barrels per day (bpd) oil refinery in the southern province of Maysan with the Swiss company Satarem.
Iraqi engineer Muthna Kuba who works in Switzerland, however, said Satarem does not exist
In a letter send to al-Malki and a copy of which sent to me, Kuba said he carried a thorough investigation in Switzerland about the company and could only find that it is run by a small law firm in Zug.
Iraq said the refinery is one of four new projects designed to increase refining capacity by around 740,000 bpd and revamp Iraq‘s oil sector, left dilapidated by decades of war and sanctions.
“Today we sign a contract for an important investment project with the participation of the private sector, which will contribute towards filling the need of the country for oil products,” Reuters quoted al-Maliki as saying at the signing ceremony.

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