Congo’s Failure to Publish Oil Deal Breaches Law, Group Says

The Democratic Republic of Congo’s government breached its own regulations by failing to publish a contract for its purchase of an oil block from Israeli billionaire Dan Gertler last year, Global Witness said.

Nessergy Ltd., an oil company owned by Gertler, paid $500,000 for 95 percent of Congo’s stake in the offshore block in 2006, according to the Oil Ministry. Congo’s government paid $150 million to buy it back last year, according to le Soft, a Kinshasa-based newspaper. A Nessergy official declined to comment on the figure when contacted yesterday by phone. Oil Minister Crispin Atama did not respond to an e-mail or three phone calls when Bloomberg sought comment.