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Vol 51 No 14

Published 9th July 2010


South Africa

Secret oil deal

The emergence of Khulubuse Zuma, the nephew of South African President Jacob Zuma, as a leading player in Congo-Kinshasa’s oil industry has provoked curiosity and anger in almost equal measure. Caprikat and Foxwhelp – two companies which Khulubuse Zuma claims to own – are registered in the British Virgin Islands and have won highly favourable production-sharing agreements (PSAs) for Blocks 1 and 2 on the Congolese side of Lake Albert. On 18 June, President Joseph Kabila confirmed the awards in a decree, but neither the state’s Congolaise des hydrocarbures (Cohydro), or oil ministry staffers were involved in the highly secretive negotiations.

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