Oslo, Norway – Prosecutors in Norway have charged an oil company and two of its executives for allegedly paying millions of dollars in bribes to Republic of Congo President Denis Sassou Nguesso and his family, in a case that has drawn international attention to corruption in the energy sector.
The Allegations
Norwegian police said the investigation was triggered after authorities in Monaco sought legal assistance regarding a suspicious bank transaction. According to prosecutors, the bulk of the alleged $25 million was offered to Sassou Nguesso and his family in 2016, when the Norway-based oil group applied for an offshore licence.
Additional bribes were allegedly paid in the form of undue advantages and loans, according to the indictment.
The company at the centre of the case, Hemla Africa Holding, is a wholly owned subsidiary of PetroNor E&P, which is listed on the Oslo Stock Exchange.
Congo Connection
Sassou Nguesso’s family controls the Congolese company MGI International, which owned 25 percent of the local firm Hemla E&P Congo. That company was granted the offshore licence.
Prosecutors allege that the two Norwegian executives ensured dividends were regularly paid from Hemla E&P Congo to MGI International.
“Up to and including 2024, this has conferred an advantage of at least $24.68 million to the president through his close family members,” the indictment stated.
Market Reaction and Company Response
Shares of PetroNor fell by more than 14 percent on Monday before recovering some ground. The company has denied the allegations.
“The company categorically contests the indictment of Hemla and welcomes the opportunity to have the case thoroughly examined in court,” PetroNor said in a statement.
Executives Charged
The two Norwegians, identified in media reports as Hemla board members Gerhard Ludvigsen and Knut Sovold, were first arrested in 2021 over the affair. They were held in custody for two weeks before being released. Both have denied the allegations.
Their lawyer, Halvard Helle, told financial newspaper Dagens Naeringsliv that cooperating with local partners for licence shares is “a totally normal way of organising oil operations around the world.”
Sassou Nguesso’s Long Rule
President Denis Sassou Nguesso has ruled the oil-rich Republic of Congo for more than four decades across two separate periods, making him one of Africa’s longest-serving leaders.
Conclusion
The case highlights the intersection of global energy interests, governance, and corruption risks in resource-rich nations. As the trial proceeds, it will test Norway’s anti-corruption framework while raising questions about accountability in international oil deals involving political elites.
