Photographer Somali Times/Somalia corrupt president Hassan Sheikh
First, the president signed an oil deal with a company called Coastal Exploration without federal leaders are present without Somalis agree.
The agreement that he signed is the agreement former Somalia president Mohamed Abdullahi Farmajo’s government rejected and he issued a letter and the Ministry of Foreign Affairs of Somalia which issued a letter saying that there is no agreement between Somalia and Coastal Exploration.
That agreement was the agreement that Hassan Sheikh criticized former president Mohamed Abdullahi Farmajo and accused of committing treason against the nation. Hassan Sheikh signed the same agreement. If Farmajo signed it, it is treason if Hassan Sheikh signed it is ok to steal with his family Somalia resources.
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
Hassan Sheikh said, ”We have changed oil agreement with Coastal Exploration, we have.”
Coastal Exploration company tweet said they have given 7 million dollar to Hassan Sheikh and his corrupt government and the Minister of Petroleum, who is Hassan’s brother, to sign the agreement.
The agreement is invalid and is corruption involved no one see the agreement including the corrupt lawmakers Coastal Exploration has been known Soma Oil & Gas.
Read: Somalia’s president Hassan Sheikh history of corruption 2012-2017
Soma Oil & Gas change their name to Coastal Exploration
According to The Guardian newspaper reported Serious Fraud Office to investigate firm’s Somali oil contract bid A company chaired by the former leader of the Conservative party made payments to a Somali government adviser as they were agreeing a lucrative oil contract with the troubled east African country, the Guardian has learned.
Soma Oil and Gas, which is chaired by Lord Howard, paid legal fees to the independent advisory group, Petroleum Regimes Advisory (PRA) as PRA was negotiating on behalf of the government of Somalia.
A spokesman for the campaign group Global Witness said that payments to PRA would raise serious questions about conflicts of interest as PRA was meant to be negotiating solely on behalf of the Somali government.
The Serious Fraud Office raided Soma’s London office after receiving corruption allegations about Soma’s activities.
UN monitoring group warned that the oil and gas deals signed by the Somali government were “likely to exacerbate legal tensions and ownership disputes and stunt the transparent development of Somalia’s oil and gas sectors”.
The Guardian newspaper reported 2015 when Hassan Sheikh was Somalia president.
Corrupt Somalia president Hassan Sheikh trying to commit fraud again signing oil agreement with Coastline Exploration in October 21 2022.
Somalia state leaders they have to agree before anyone can sign a oil agreement without all states agree. Somalia has federal state system with a constitution.
Somalia is not owned by Hassan Sheikh, his family and his cronies it is owned by the Somali people.
Now they call themselves Coastal Exploration Company.
Coastline Exploration said on Twitter, ”If our wells are successful, the Federal Government of Somalia receives a royalty of 5%, a profit split of 50%, and levels an income tax on Coastline Exploration at the rate of 30%. The government also has the right to take a direct interest in each discovery if it so chooses.”