Fed: BHP considered $US100m "loan" to Iraq

AAP General News (Australia)
02-13-2006
Fed: BHP considered $US100m "loan" to Iraq

The Cole inquiry's been told BHP considered a loan of up to 100 million US dollars
to Iraq .. as it tried to secure lucrative development rights for a huge oil field.

The inquiry .. which is investigating kickbacks paid by wheat exporter AWB .. is also
probing a decade-old grain shipment funded by BHP.

Commissioner TERENCE COLE last week suggested that a 1996 shipment .. worth five million
US dollars .. was a soft bribe .. to put BHP first in line for developing the Halfaya
oil field.

Evidence tendered to the commission today suggests BHP was considering a much bigger
loan to dictator SADDAM HUSSEIN'S regime .. but there's no evidence before the commission
to suggest the deal ever went ahead.

AAP RTV rp/jas/sco

KEYWORD: AWB BHP (SYDNEY)

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