Continental Focus, International Reach

BP Denies Impropriety Reports in Senegal Deal

Wednesday, June 5, 2019

In Senegal, BP’s stakes in two major offshore gas blocks is facing investigation. According to media reports, a group of opposition politicians in Senegal called for the investigation into the history of the two blocks operated by BP.

The call for the investigation follows a report alleging fraud by Senegalese president, Macky Sall’s brother Aliou Sall.

The BBC published an investigation alleging that in a previously unpublished arrangement, BP agreed to pay Timis Corp., run by Romanian-Australian tycoon Frank Timis, around $10 billion in royalty payments for its stake in the blocks.

The BBC report alleged that the tycoon secretly paid $250,000 to Agritrans, a company run by Aliou Sall. Sall denies any payments were made to him and called the BBC report “totally false.”

As for BP, the company issued a statement saying that it “rejects any implication that it acted improperly in the acquisition of our interests in Senegal” and that it “conducted extensive and appropriate due diligence” before acquiring the license. It said the $10 billion figure quoted by the BBC was “wholly inaccurate”.