Page 7 - AfrOil Week 49 2021

AfrOil POLICY AfrOil

TI files complaints in six countries over

suspect offshore Senegal oil block sales

SENEGAL TRANSPARENCY International has filed com- transform Senegal and lift millions from pov-
plaints in six jurisdictions over allegedly suspect erty. And yet, they have been sold to a convicted
deals surrounding the 2012 sale of two oil blocks offender who has reportedly repeatedly lied to
off the Senegal coast and has called on the rele- communities and investors, all the while engag-
vant authorities to launch investigations. ing in dubious business dealings with public
“It is critical that the available evidence officials.”
is promptly examined by the authorities in In a statement, Transparency International
countries that have jurisdiction over the case: said it had examined documents suggest-
Australia, Romania, Malaysia, Singapore, UK ing that the two companies at the heart of the
and the US,” the anti-graft watchdog said in a deal, US-based Kosmos Energy and UK-based
statement. super-major BP, “should have known they were
Transparency International’s call follows entering deals showing numerous red flags of
investigations carried out by the Organised corruption.” ™
Crime and Corruption Reporting Project
(OCCRP) and BBC Africa Eye in 2019 into the
sale of concession rights for the St. Louis Pro-
fond and Cayar Profond offshore blocks.
According to the reports, Romanian-Aus-
tralian businessman Frank Timis allegedly
bribed Senegalese officials to acquire access to
lucrative oil and gas reserves under extremely
favourable conditions. These revelations impli-
cated Senegal’s incumbent president, Macky
Sall, his brother, and the son of the former
president.
“[The] people of Senegal deserve transpar-
ency and integrity when it comes to how their
natural resources are handled,” said Birahim
Seck, coordinator of Forum Civil, Transpar-
ency International’s national chapter in Senegal.
“These oil and gas reserves have the potential to TI’s concerns centre on the transfer of two offshore blocks (Image: Kosmos Energy)

Ghanaian minister calls for expanding

downstream trade among African states

GHANA GHANA’S Deputy Energy Minster Dr. Moham- our refinery capacities. This will enable us to cre-
med Amin Adam called on African countries ate wealth together for now and in the future. We
earlier this week to increase their refining capa- can transform our oil into petrochemicals that
bilities and deepen regional trade of refined are needed everywhere in the world,” he said.
products and petrochemicals. According to International Energy Agency
Speaking at the 8th annual Ghana Oil and (IEA) estimates, he said, petrochemicals will
Gas Awards in Accra, he noted that intra-Af- account for a third of global oil demand by 2030,
rican trade accounts for just 5% of all oil trade with this growing to 50% by 2050.
in the region. Amidst market uncertainty, he In light of these trends, Adam said that
added, Africans should explore regional oppor- Ghana’s Ministry of Energy was working to
tunities to improve economic performance. diversify the industry and “harness the benefit
“We should mobilise resources to trade of the oil and gas resources” through the estab-
among ourselves as Africans. We need to build lishment of a petroleum hub.

Week 49 08•December•2021 www. NEWSBASE .com P7