About
Jean Chrétien was prime minister of Canada from 1993 to 2003, winning two re-election campaigns.In the data
Bermuda-registered Madagascar Oil Limited awarded options to Chretien in July 2007 as a consulting fee, according to documents in the Appleby files. Madagascar Oil was formed to explore and drill for oil in Madagascar and shares revenue with the government there. Madagascar Oil went public in November 2010 at a valuation of $284 million.
Madagascar Oil Limited was shareholder of two companies registered in 2004 and 2010 in Mauritius. One of them, Madagascar Oil Services Ltd. was created to “be a holding company of a group of companies involved in the exploration and development of heavy oil”.
The Appleby files contain no evidence that Chretien exercised the options.
Response
In an interview with ICIJ media partner the Canadian Broadcasting Corporation, Chretien said that he has worked for Madagascar Oil “only for a few days, a few weeks.” “I have never had any [stock] option,” he said. “I was never sent any document, I have never received an annual report of anything.” Chretien added that Madagascar Oil “probably used … my name, to show there was a link with me. But [the company] never sent me any document on this.” He told CBC that he was not aware that he had options.
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