On the surface, the contract between Markwell and Pinsong, two shell companies with no owners or substantial business activity, appears a little unseemly but also legal and unremarkable, as offshore dealings often are.
Pinsong, the principal, paid a fee of €15-million to Markwell, the agent, in 2007 to assist a third party obtain Angolan deepwater oil concessions.
But leaked data from Mossack Fonseca, a Panama-based offshore service raises questions about how these entities assisted others in obtaining the rights to drill for Angolan oil.
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