IPNEWS: Former House Speaker Cllr. Jonathan Fonati Koffa and the Political Leader of the “Citizens Movement For Change”, Nimba County Electoral District #7 Representative Musa Hassan Bility have written a Joint Communication to the House’s Committees on Hydro Carbon and Investment and Concessions to reject ratifying Atlas Oranto (herein “Oranto”) Production Sharing Agreement, which was recently submitted to the Legislature and should be returned to the Executive.
Providing justification for their call, the two Lawmakers in their communication sighted the poor history of dealings between Oranto Petroleum and Liberian authorities which according to them is marred by scandal and corruption.
According to them, in 2007, Oranto was granted three oil blocks to wit, LB 11, LB 12, and LB 14. The process was widely criticized for its lack of transparency and integrity.
The Nigerian, whose family owns the majority share in Oranto, subsequently sold these blocks to the American Company Chevron, through a deal with a “straw man,” without drilling a single well or making any investment in our land. The straw man in this case was the Canadian Overseas Petroleum, Ltd (COPL).
According to an investigative report by ProPublica, the first Oranto Deal violated the American Foreign Corrupt Practices Act (FCPA). Numerous other reports highlighted the same issues with the deal.
The deal with Chevron was worth over US$200 million, of which Oranto netted over US$150 million. Forbes Magazine. Report Says Chevron Partners Paid Bribes In Liberia. September 29, 2011; Global Witness. Curse or Cure: How Oil Can Boost or Break Liberia’s Post-War Recovery. September 2011; ProPublica. Follow the Money:
Payment Trail Reveals Challenges of Ridding Liberia of Corruption, February 22, 2012. Written By: Randall George Email: ziog4503@gmail.com, WhatsApp: +231777487677,
