The @ICIJorg & @NYTimes investigate #Angola’s #Kleptocracy

HOW U.S. FIRMS HELPED AFRICA'S RICHEST WOMAN EXPLOIT HER COUNTRY'S WEALTH

Ms. dos Santos, estimated to be worth over $2 billion, claims she is a self-made woman who never benefited from state funds. But a different picture has emerged under media scrutiny in recent years: She took a cut of Angola’s wealth, often through decrees signed by her father. She acquired stakes in the country’s diamond exports, its dominant mobile phone company, two of its banks and its biggest cement maker, and partnered with the state oil giant to buy into Portugal’s largest petroleum company.

...A trove of more than 700,000 documents obtained by the International Consortium of Investigative Journalists, and shared with The New York Times, shows how a global network of consultants, lawyers, bankers and accountants helped her amass that fortune and park it abroad. Some of the world’s leading professional service firms — including the Boston Consulting Group, McKinsey & Company and PwC — facilitated her efforts to profit from her country’s wealth while lending their legitimacy.

The @ICIJorg & @NYTimes investigate #Angola’s #Kleptocracy

Thread by @RaoulGMI: Interesting juncture for #oil again...if it breaks the trend, could head back to $50. 1/ Large speculator long positions 2nd largest

Interesting juncture for oil again... if it breaks the trend, it should head back to $50. 1/

Large speculator long positions are the 2nd largest in history....2/

Volatility is sanguine...3/

And Nat Gas seems to be leading the oil price.4/

And oil is the key drive of inflation expectations...5/

And therefore 10 year bond yields...6/

And also oil and gas stocks...7/

This is definitely worth watching to see what develops as it clearly partially drives the reflation thesis.

https://threadreaderapp.com/thread/1219585749621903361.html

#EastMed #NatGas #Pipeline Deal to be Signed by #Israel, #Cyprus, #Greece, amid #Turkey's sabrerattling #OOTT

1,900-kilometer (1,181 miles) Eastern Mediterranean natural gas pipeline will connect recently discovered gas fields in the eastern Mediterranean basin with European markets through Greece and Italy.

Cyprus President Anastasiades, Greek PM Mitsotakis and Israeli PM Netanyahu will on Thursday sign an accord for the construction of the long awaited pipeline. Italian Prime Minister Giuseppe Conte is set to sign the agreement at a later date.

The project is being developed by IGI Poseidon SA, a joint venture of Greece’s state-owned supplier Depa SA and Edison SpA.

The European Union has said it supports the project because it will help diversify its gas supplies and boost energy security.

U.S. Secretary of State Michael Pompeo also underlined American backing for the pipeline when he attended a Cyprus-Greece-Israel trilateral summit in Jerusalem in March.

Greece's Depa also signed on Jan. 2 with Energean Oil & Gas Plc a letter of intent for the potential sale and purchase of 2 billion cubic meters of natural gas per year from Energean’s fields offshore Israel, an important step for the project’s commercial viability and its realization.