AN investigation by Global Witness (GW) into Congo-Brazzaville's state oil company SNPC has discovered at least $2.7 billion in previously undisclosed liabilities to oil majors and identified millions of dollars of missing funds. GW's findings are based on an analysis of SNPC's accounts and a series of oil contracts that were made public in 2018 and 2019 under the conditions of a bailout from the International Monetary Fund (IMF). SNPC's liabilities are to oil companies including Total, Chevron and Eni and are 50% higher than they were in 2010.
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