Increasing “non-technical” risks are added, resulting from the growing uncertainty about the already ongoing political transition of PR TEODORO OBIANG to his son TEODORO NGUEMA OBIANG MANGUE (“Teodorin”), current vice-PR, who has increased influence in the oil sector through appointments (AM 1430). Despite “Teodorin”’s attempt to minimise Exxon’s exit by highlighting GE Petrol’s capacity, it lacks experience as an upstream operator and has no cadres. “Teodorin” has taken positions hostile to European or US investments, resented the various judicial and political trials of which he was the target in the West for corruption and money laundering to which he has been linked. READ MORE