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Texas links to Iraq oil revealed
By David Teather
05/18/03: (The Guardian) NEW YORK: The US-led effort to rebuild Iraq was
facing more criticism on Friday after the Texan businessman installed to
run the country's oil industry admitted having financial links to a
company bidding for reconstruction work.
Philip Carroll acknowledged in an interview with the Los Angeles Times
that he could be accused of a conflict of interest because of his
relationship with a Californian company, Fluor, that has formed a joint
venture with the British construction company Amec to bid for work to
rebuild Iraq estimated to cost about six billion US dollars.
The disclosure will pile more pressure on to the Bush administration for
its handling of the rebuilding programme.
The secret process of awarding multi-billion-dollar contracts to
reconstruction companies, many with links to the administration, has
proven contentious in the US and Europe.
Mr Carroll, 65, said he could "absolutely" see that his
business interests with Fluor could cause controversy. He receives more
than one million dollars a year from Fluor in retirement benefits and
bonuses pegged to the company's performance. He also owns about one
million of its shares, worth about $34 million.
He said he would distance himself from any future contracts to ensure
that there would be no appearance that he had influenced any decisions.
He also said that he had fully disclosed his financial interests to the
defence department.
"I know at this stage of my life I don't want my reputation
tarnished," he said.
"And I will stay so far away from any consideration of the bidding
process, evaluation process or even the administration and arbitration
of things associated with any of those companies in which I have a
financial interest."
The Guardian News Service.
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