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Article

9 Jul 2009

Author:
Human Rights Watch

Well Oiled - Oil and Human Rights in Equatorial Guinea

Oil revenues have provided the Equatoguinean government with the money needed to do a much better job realizing their citizens’ economic and social rights. Government officials have [used]… public funds for personal gain at the expense of providing key social services to the country’s population, and squandering other potential revenues through mismanagement… A 2004 US Senate probe into Equatorial Guinea’s dealings with the US-based Riggs Bank (now part of PNC Bank) threw light upon how Equatorial Guinea has in the past managed its funds from the oil industry. The role of US oil companies in Equatorial Guinea also came under official investigation—an important development, as it signaled to them that even in Equatorial Guinea they will not escape scrutiny of their business dealings. [refers to Military Professional Resources (part of L- 3 Communications), Chevron, Devon, ExxonMobil, Hess, Marathon, Vanco Energy]