NYT: In 2000 Condi lead Chevron's public policy committee, during the Iraq oil-for-food scandal

[sabra]

http://www.nytimes.com/2007/05/08/business/08chevron.html?_r=1&pagewanted=all&oref=slogin

Chevron Seen Settling Case on Iraq Oil

Chevron, the second-largest American oil company, is preparing to acknowledge that it should have known kickbacks were being paid to Saddam Hussein on oil it bought from Iraq as part of a defunct United Nations program, according to investigators.

The admission is part of a settlement being negotiated with United States prosecutors and includes fines totaling $25 million to $30 million, according to the investigators, who declined to be identified because the settlement was not yet public.

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As part of the deal under negotiation, Chevron, which now owns Texaco, is not expected to admit to violating the United Nations sanctions. But Chevron is expected to acknowledge that it should have been aware that illegal kickbacks were being paid to Iraq on the oil, the investigators said.

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According to the Volcker report, surcharges on Iraqi oil exports were introduced in August 2000 by the Iraqi state oil company, the State Oil Marketing Organization. At the time, Condoleezza Rice, now secretary of state, was a member of Chevron’s board and led its public policy committee, which oversaw areas of potential political concerns for the company.

Ms. Rice resigned from Chevron’s board on Jan. 16, 2001, after being named national security advisor by President Bush.

Sean McCormack, a State Department spokesman, referred inquires to Chevron.