Romanian investor accused of bribing officials in Senegal before billion-dollar deal with BP
Romanian businessman Frank Timis is accused of bribing the president of Senegal to retain two large offshore gas concessions, which he subsequently sold to oil and gas group British Petroleum, according to a BBC investigation aired on 3…
Romania Insider · Journalist
· Updated · 1 min read
Romanian businessman Frank Timis is accused of bribing the president of Senegal to retain two large offshore gas concessions, which he subsequently sold to oil and gas group British Petroleum, according to a BBC investigation aired on 3 June in the Panorama show.
The BBC reporters said Frank Timis allegedly hired the Senegalese president's brother with USD 25,000 a month into one of his companies while the president accepted to prolong his concessions won in his predecessor's mandate.
The BBC claims that BP bought Timis' business in 2017 for USD 250 million, but the British journalists' papers show that BP would pay Timis' company royalties worth between USD 9 billion and USD 12 billion over a period of 40 years.
Both BP and Frank Timis denied any wrongdoing. Timis Corporation said the allegations were "entirely false".
(Photo: Pixabay)
