Cobalt targeting go-ahead despite alleged links with officials

Cobalt International is going ahead with Cameia development

US company Cobalt International said it is targeting the go-ahead for its Cameia development by the end of the year – although, the day before the announcement, the US authorities said they were considering action against the firm over alleged links with Angolan officials. Cobalt said it believes its “activities in Angola have complied with all laws”, but the firm’s share price fell sharply on the announcement.  After an investigation which started in 2011, the US Securities and Exchange Commission issued a notice in early-August saying that enforcement action against the company was being recommended, after alleged violations of federal securities laws. Cobalt said it will respond to the no