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Multinational companies attempt coup in guinea Original Source Link: (May no longer be active)
http://www.cnn.com/2004/WORLD/africa/03/10/guinea.plot.reut/http://www.cnn.com/2004/WORLD/africa/03/10/guinea.plot.reut/
Equatorial Guinea foils 'plot'
DAKAR, Senegal (Reuters) -- A plot to topple Equatorial Guinea's leader was funded by "enemy powers" and multinational companies operating within sub-Saharan Africa's third biggest oil producer, its president said.
In a speech reported by state media, President Teodoro Obiang Nguema Mbasogo thanked South Africa and Angola for warning him of the plot but said other nations had helped conspire to usurp him with an exiled politician living in Spain.
Some 15 suspected mercenaries, the majority South Africans, were arrested in the former Spanish colony late on Monday after a widespread clampdown on foreign nationals.
"In the course of questioning, we have found that they were financed by enemy powers, by multinational companies, by countries that do not love us," Obiang said in the speech, broadcast by state radio and television.
"There are other countries who knew about this attempt and did not contribute information. We will have to qualify them as enemies. Multinational firms operating here and outside who contributed to this operation are also enemy companies."
He did not identify any of the countries or firms. In the address, Obiang said he wanted Spain to support his leadership in its current difficult times.
Obiang said the 15 were linked to men being held in Zimbabwe. The authorities there detained more than 60 men on Sunday after seizing a U.S.-registered cargo plane which officials said was carrying military equipment.
The detainees, mainly South Africans, Angolans and Namibians, were being held on suspicion of being mercenaries.
The discovery of massive oil reserves has boosted Equatorial Guinea's economy by as much as 70 percent a year but critics say the new-found wealth has not been shared evenly.
The International Monetary Fund has said there needs to be more transparency in managing oil revenues, but Obiang, accused of hoarding the money, says they are a state secret.
The country is mostly run by members of Obiang's clan but bitter, long-running family feuds mean tension is running high within the ruling the elite.
A number of opposition politicians also live in exile in Spain and have formed a government-in-exile headed by Severo Moto -- the man Obiang claims was behind the plot. Moto has rejected the accusation.
Last year Equatorial Guinea produced 350,000 barrels of oil per day, ranking it the third biggest producer in sub-Saharan Africa behind Nigeria and Angola. A host of foreign companies work in the oil sector.
U.S. giant Exxon Mobil Corp is the biggest oil producer in Equatorial Guinea.
Other companies operating there include independent oil company Amerada Hess Corp, U.S. ChevronTexaco Corp, Noble Energy Inc, Devon Energy Corp, Houston-based Marathon Oil Corp, South Africa's Engen Africa, Sasol and Nigeria's Atlas Petroleum.
Copyright 2004 Reuters. All rights reserved.This material may not be published, broadcast, rewritten, or redistributed.
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