“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