SEC upgrades Equatorial Guinea payments inquiry

08/15/2005
The US Securities and Exchange Commission apparently has upgraded its 2004 probe of US oil and gas producers’ payments to the government of Equatorial Guinea to a formal investigation from an informal inquiry.Marathon Oil Corp. and Amerada Hess Corp. have received subpoenas related to the probe, the companies disclosed in separate 10-Q filings. Devon Energy Corp. received a subpoena Aug. 10, a spokesman told OGJ.The SEC also notified ExxonMobil Corp. of a “formal order seeking information regarding several companies operating in Equatorial Guinea,” a spokeswoman for the company said. ExxonMobil has not received a subpoena, she added.All four producers said they are coope...
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