Political Risk

Military, political leaders behind murky Angola deepwater oil deals

“On the surface, the contract between Markwell and Pinsong, two shell companies with no owners or substantial business activity, appears a little unseemly but also legal and unremarkable, as offshore dealings often are. Pinsong, the principal, paid a fee of €15-million to Markwell, the agent, in 2007 to assist a third party obtain Angolan deepwater oil concessions. But leaked data from Mossack Fonseca, a Panama-based offshore service raises questions about how these entities assisted others in obtaining the rights to drill for Angolan oil.”

Source: Military, political leaders behind murky Angola deepwater oil deals | News | Africa | M&G

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