Badaran Government rejects claims made by Haven World Wide.
November 2968
Bier Qassem, Emirate of Kayuratan,
The Badaran Government published a statement concerning claims made by Haven World Wide. In the statement the Minister of Trade and Industry, mr. Hafez al-Karimi, rejects the made claims that HWW owns 49% of all Badaran oil and gas refineries and reserves. Mr. Hafez al-Karimi stated that HWW entered a joined venture with the Petroleum Development Al'Badara as a junior shareholder with 49% of the shares. The PDB-HWW joint venture only controles 2 oil fields, which represent less then 10% of the entire Badaran oil production. The Minister continued by saying that if HWW continues to claim it owns 49% of the Badaran oil and gas refineries and reserves, it would have serious repercussions for the relationship between the United Badaran Emirates and Haven World Wide.