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Is Deepwater Drilling More Profitable Than Shale?

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Conventional wisdom in oil markets…

Pakistani Energy Minister who Embezzled $850 Million, Arrested in Abu Dhabi

During his time as Pakistan’s head of the Oil and Gas Regulatory Authority between 2009 and 2011, Tauqir Shariq embezzled around $850 million.

Before he could be captured and tried he managed to flee the country in secret and disappear.

The news has just been released that he has been arrested in Abu Dhabi, and the National Accountability Bureau (NAB) have stated that he could be handed over to authorities in Islamabad within days.

A spokesman from the NAB announced: “We can confirm his arrest. He has been detained in Abu Dhabi.”

Tariq was appointed to office in 2009 by the current Prime Minister Raja Pervez Ashraf, when he was at the time working as the Water and Power Minister.

Related article: Jordan - Problems Ahead?

During the case against Tariq the Supreme Court has piled pressure on the current government, asking the NAB to provide references against any who were involved in his protection.

These references have led to an extra to two criminal cases being filed against the Prime Minister Ashraf and other senior members of the ruling Pakistan People’s Party.

The court has also ordered the arrest of 16 others, including three former ministers, in connection with the case, and the allegations of bribery and embezzlement.

By. Joao Peixe of Oilprice.com



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