2016 January 21 Home // 2016 January 21

Cuadrilla and leading fracking firms’ tax haven ownership

Cuadrilla and leading fracking firms’ tax haven ownership

Cuadrilla, one of the UK’s leading shale gas firms, is majority owned by entities based in offshore tax havens, a Greenpeace investigation has found.

The analysis of financial data and companies house filings also reveals that 40% of existing oil and gas exploration licenses have been awarded to exploration partnerships in which at least one company is owned offshore.

The news comes as the government prepares to announce the next round of licenses to drill onshore for oil and gas.

See also: Almost half of firms awarded blocks in 14th round overseas owned or based abroad

This includes companies based in tax havens such as Bermuda, the British Virgin Islands and the Cayman Islands, all of which were recently placed on an EU tax haven blacklist for being “non-cooperative” with efforts to combat tax avoidance.

45% of Cuadrilla is held by Riverstone Holdings through a Cayman Islands-based investment fund, while another 45% is held by Australian company AJ Lucas, which is 50% owned and substantially bankrolled by Kerogen Capital, registered in the Caymans.

Other leading fracking firms owned by companies registered offshore include Third Energy – which is owned by a division of Barclays bank based in the Cayman Islands – and Celtique Energie, which has sought to frack in South Downs national park.

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Children as young as eight were forced to perform sex acts on each other and ANIMALS while in council care, judge finds

Children as young as eight were forced to perform sex acts on each other and ANIMALS while in council care, judge finds

Children were made to perform ‘sexual activities’ with each other and animals at a hotel, a family court judge has concluded.

Social workers from Coventry City Council had asked Judge Hilary Watson to investigate a series of allegations made by a number of children in their care.

The judge has now made a number of shocking findings of facts after analysing evidence at a court hearing in the city.

She said the allegations were made by four children aged between eight and 14 against a man they knew.

No one was identified in her written ruling, in which limited detail about the incidents was made public.

The children spoke of travelling to Birmingham on a bus and indicated that the hotel was in the city. They also indicated that activities had been recorded on video.

Judge Watson said some of the ‘suggestions’ might seem ‘fantastical’, but concluded they were probably a ‘grim reality’.

She said: ‘In my judgment, the children are telling the truth when they describe being taken… to a hotel where they had wine and tablets and were made to perform sexual acts watched by other people.