Africa: Congo Fails to Reveal Loss-Making Oil Deal With Controversial Businessman’s Offshore Firm

[Global Witness]The Democratic Republic of Congo has struck a deal to buy back oil rights from a secretive offshore company for a sum likely to be hundreds of times the price the company paid several years earlier, Global Witness says in a report published today. The contract for the latest sale – in which Congo appears to have made a staggering loss – has not been published, in contravention of the country’s transparency laws.