The plot thickens as the letter from Hubbard, which was revealed Tuesday, states that the acting executive director Inge K. Hansen was one of the five directors who agreed to enter into the controversial Iran agreement.
Hansen allegedly said that “1.5 million dollars annually is cheap for consultancy.”
However, the Statoil board still has confidence in Hansen, stated Kaci Kullman Five, acting chairperson, the Norwegian television channel Tuesday evening.
According to Hubbard’s letter, it is Medhi Hashemi Rafsanjani, the son of the powerful ex president in Iran, who is the actual advisor for Statoil in Iran. Horton Investments, the company which is listed as the official partner, is less important.
According to Hubbard, it was Rafsanjani who suggested that the consultant agreement should be directed through Abbas Yazdi and his company Horton Investments.
Medhi Hashemi Rafsanjani is referred to as “Junior” in Hubbard’s letter due to his status as son of the president.
The letter allegedly stated; “Junior” gave us good advice about the business conditions and current political relations. It was a great help.
According to the Norwegian financial paper Dagens Næringsliv, Richard Hubbard had a strained relation to Inge K. Hansen.