Angolan president Jose Eduardo dos Santos may have to answer questions concerning his daughter’s recent appointment as the head of state-owned Sonangol.
According to court documents seen by Reuters, Angola’s Supreme Court has asked dos Santos to respond to an inquiry into why he appointed Isabel dos Santos as CEO of the state-owned oil firm in June.… Continue Reading
Independent oil and gas firm Cobalt International Energy, Inc. said this week that DOJ and SEC investigations into business arrangements in Angola are ongoing and the company is cooperating.
Cobalt International Energy, Inc. has denied alleged links between government officials and Nasaki Oil and Gas, one of Cobalt’s partners in Angola.
The Sunday Financial Times reported that the former head of Angola’s national oil company confirmed that three officials have held shares in Nasaki.… Continue Reading
Oil is big business. And it leads some companies to take big risks with FCPA compliance.
Take Cobalt International Energy, Inc., for example.
In its annual report filed with the SEC on March 1, Cobalt repeated a disclosure, of sorts, about FCPA compliance in an Angolan development project.… Continue Reading