NEW YORK (CNN/Money) -
A report on potential abuses in Iraq's former oil-for-food program named Exxon Mobil, ChevronTexaco and El Paso Corp. as companies associated with Saddam Hussein's efforts to flout sanctions, according to a report published Monday.
The report released by the Central Intelligence Agency identifies the oil companies as parties that allegedly received vouchers for Iraqi oil, the Wall Street Journal reported.
Officials added that receiving the vouchers, which are negotiable instruments that can be traded for oil, is not criminal in itself and that no one has been charged with an offense, the newspaper reported.
Exxon Mobil (XOM: Research, Estimates), ChevronTexaco (CVX: Research, Estimates) and El Paso Corp. (EP: Research, Estimates) previously confirmed that they did receive subpoenas under an investigation into potential abuses by a federal grand jury in Manhattan, according to the Journal.
The United Nations blocked Iraqi oil sales in 1990 following its invasion of Kuwait. However an oil-for-food program was eventually established to ease potential food shortages.
The CIA report estimates that the former Iraqi government illegally collected $11 billion by selling oil blow market price and receiving the difference through kickbacks, the newspaper reported.
A Chevron spokesman and an El Paso spokesman told the Journal that the companies are cooperating with the investigation. A spokesperson for Exxon Mobil could not be reached for comment.