US Senate investigates irregular payments from ExxonMobil, Amerada Hess & Marathon Oil to president of Equatorial Guinea & his relatives

Get RSS feed of these results

All components of this story

Article
16 July 2004

Equatorial Guinea: US Senate probe reveals massive theft of oil revenue

Author: UN Integrated Regional Information Networks

...most of the irregular payments made into a series of more than 60 Equato-Guinean accounts at Riggs Bank came from...ExxonMobil, Amerada Hess and Marathon..."It is critical to fight corruption in a part of the world with so much abject poverty," [Senator] Levin said..."Neither our companies doing business abroad, nor our banks here at home should be contributing to the corruption problem." [also refers to Riggs Bank & GEOGAM]

Read the full post here

Article
15 July 2004

Corrupt influence by Big Oil alleged: [US] Senate panel uncovers deals in West Africa [Equatorial Guinea]

Author: David Ivanovich, Houston Chronicle

Staffers on the Senate's Permanent Subcommittee on Investigations pointed to arrangements between the oil companies and entities controlled by the family of President Teodoro Obiang Nguema, as well as to scholarships doled out to relatives of the country's elite...The oil executives contended their transactions were legal and as transparent as possible. [refers to ExxonMobil, Marathon, Amerada Hess - also refers to Riggs Bank]...Two Houston-based oil-field service firms, Halliburton Co. and, most recently, ABB Vetco Gray [part of ABB], have admitted to making improper payments in Nigeria.

Read the full post here

Article
15 July 2004

Report rails on Riggs [Washington DC-based Riggs Bank]

Author: Elliot Blair Smith, USA TODAY

The [US Senate] hearing looked at investigators' findings that the bank served as a conduit for several large U.S. oil companies — including Amerada Hess, ExxonMobil and Marathon Oil — to pay hundreds of millions of dollars to relatives of Teodoro Obiang Nguema Mbasogo, the president of Equatorial Guinea...Amerada Hess did not comment. ExxonMobil said it opposes corruption and is committed to "honest and ethical behavior." Marathon Oil executive Steven Guidry vowed "strict adherence" to U.S. law.

Read the full post here