Tutu Alicante was studying in the United States when his sister, suffering from an ectopic pregnancy, was rushed to the hospital back home in Equatorial Guinea. It was 1996, a year after Mobil had discovered oil off the country’s coast. When she arrived at the hospital, Alicante recounted recently, there was no power and no doctor. His sister bled to death.

In 2014, Alicante said, his father was rushed to the same hospital and found similar conditions, and he, too, died. Over 18 years, Mobil’s oil field had brought soaring economic growth to Equatorial Guinea, but that wealth had failed to transform life for many of the nation’s poor, Alicante said.

Alicante is the executive director of EG Justice, a U.S.-based nonprofit focused on corruption in Equatorial Guinea, and he told this story during a recent webinar highlighting new securities filings from American oil and mining companies. The Read the Full Article