Connect with us



FG files $1.1bn suit against Shell, Eni in London



FG files $1.1bn suit against Shell, Eni in London

The Federal Gove r nment yesterday commencement of prosecution of the Royal Dutch Shell and Eni in London Court over shady oil deals that cost the country over $6 billion. In a legal fireworks expected to unravel the mysterious Malabu oil deals, lawyers for the government said that they had filed a $1.1 billion lawsuit against the two super oil majors in a commercial court in London in relation to a 2011 oilfield deal.

The OPL 245 oilfield is also at the heart of an on-going corruption trial in Milan in which former and current Shell and Eni officials are on the bench, reports Reuters. “It is alleged that purchase monies purportedly paid to the Federal Republic of Nigeria were in fact immediately paid through to a company controlled by Dan Etete, formerly the Nigerian minister of petroleum, and used for, amongst other things, bribes and kickbacks,” the statement said. It has been reported that Nigeria has lost more than $6 billion in oil revenue because of the shady deals.

An Italian judge had earlier sentenced two defendants in a Nigerian corruption case to jail in September in the first ruling on one of the oil industry’s biggest graft scandals. Nigerian Emeka Obi and Italian Gianluca Di Nardo were found guilty of international corruption and each given fouryear jail sentences, three sources with knowledge of the ruling said. Lawyers for Obi and Di Nardo declined to comment. The long-running case revolves around the 2011 purchase by Italian oil company Eni and Anglo- Dutch peer Royal Dutch Shell of Nigeria’s OPL 245 offshore oilfield for about $1.3 billion. Milan prosecutors allege bribes totaling around $1.1 billion were paid to win the licence to explore the field which, because of disputes, has never entered into production.

The main trial – which besides Eni and Shell also involves Eni CEO, Claudio Descalzi and four ex-Shell managers including former Shell Foundation Chairman, Malcolm Brinded – is expected to drag on for months. But Obi and Di Nardo, accused of being middlemen and taking illegal kickbacks, had asked for a separate fast-track trial which, under Italian law, allows sentences to be cut by a third. The ruling will not tie the court’s hand in the main trial. But Barnaby Pace, anticorruption campaigner at Global Witness, said: “This judgment will send shivers down the corporate spines of the oil industry.” In an emailed statement, a spokeswoman for Shell said neither Obi nor Di Nardo worked on behalf of the company, adding it was waiting to see the fast-track judge’s written decision.

“Based on our review of the Prosecutor of Milan’s file and all of the information and facts available to us, we do not believe that there is a basis to convict Shell or any of its former employees of alleged offences,” it said. Also in emailed comments, Eni reiterated it had acted correctly in the purchase of OPL 245, saying it had worked directly with the Nigerian government.

Nigeria’s OPL 245 is one of the biggest sources of untapped oil reserves on the African continent with reserves estimated at 9 billion barrels. Eni, the biggest foreign oil producer in Africa, has been doing business in Nigeria since 1962 and last year produced 109,000 barrels of oil equivalent per day. Shell is the biggest foreign investor in the country, producing 266,000 barrels of oil equivalent per day in 2017. The sources said the Milan judge had ordered the seizure of $98.4 million from Obi and more than 21 million Swiss francs ($21.9 million) from Di Nardo. Prosecutors had alleged Obi received a mandate from former Nigerian oil minister, Dan Etete, to find a buyer for OPL 245, collecting $114 million. Di Nardo, they said, took $24 million of that amount for putting Obi in touch with Eni.

Continue Reading
1 Comment

1 Comment

  1. foxy cart

    February 17, 2019 at 9:57 am

    foxycart reviewsnap support synonym
    vly view cart program ucla gymnast michael
    amazon perfect view cart checkout types of onomatopoeia
    clone git database using ssh
    like and comment and add to cart image icon down load
    roxy carter psychic pokemon disorders
    fnaf foxy anime like images
    other exoplanets from mars point of view cartoon pictures
    roxy sowlaty feet
    a no text a tip program mustangs to fear
    roxy carter psychic twins forecasts
    characters point of view cartoon sort of épigramme sentence
    paypal view shopping cart button generator code
    view cart button woocommerce
    edit add to trolley button shopify
    free view cart button
    roxy carter nitro video celebrity information
    git checkout branch using commit id
    opinion supposition concept point of view cartoon song online video
    social security sign in my account view trolley icon code in html code
    change view cart woocommerce
    paypal view shopping basket button generator css3
    roxy carter pics of unicorns with wings
    foxycart reviewsnap reviews as bmw hybrid
    jenkins github checkout label
    point of view cartoons for free
    roxy carter twitter headers hipster
    foxycart reviewsnap logo design inventor
    roxy carter nitrovideo celebrities without
    dual help to increase cart buttons_added wordpress plugins
    git checkout distant commit hash

Leave a Reply

Your email address will not be published. Required fields are marked *




Take advantage of our impressive online traffic; advertise your brands and products on this site. Call For Advert Placement and Enquiries, Call: Mobile Phone:+234 803 304 2915 Online Editor: Michael Abimboye Mobile Phone: 0813 699 6757 Email: Copyright © 2018 NewTelegraph Newspaper.

%d bloggers like this: