Shell OIl
Featured

Shell, Eni to Be Tried Over $1.3 Billion Malabu Oil Deal

133

[dropcap]A[/dropcap]n Italian judge ruled on Wednesday that two of the world’s largest oil companies, Royal Dutch Shell and Eni, the Italian company, must go on trial on charges of corruption over a $1.3 billion oil deal in Nigeria.

Italian prosecutors say that Nigerian officials were paid off with large sums of money in bribe.

The judge set a March 5 trial date in Milan for a group of current and former executives, including Claudio Descalzi, Eni’s chief executive, and Malcolm Brinded, a former chief of exploration and production for Shell.

“This is a landmark case,” said Barnaby Pace, a campaigner at Global Witness, a nonprofit group that has conducted its own investigations of the Nigeria case. “This is something of massive concern for the companies involved.”

The payment to the Nigerian government was intended to resolve a dispute over the tract, which was also claimed by a company called Malabu Oil and Gas. That company has been linked to a former Nigerian oil minister, Dan Etete. The Nigerian government, in turn, agreed to pay $1.1 billion to settle Malabu’s claims.
The Dutch police raided the offices of Royal Dutch Shell last year as part of the investigation. But Shell said in a statement on Wednesday, “We believe the trial judges will conclude that there is no case against Shell or its former employees.”

Both companies have denied wrongdoing, but having such senior or former top executives facing trial is unusual. The court case is likely to highlight the murky dealings of the international oil business, in which large sums of money are sometimes paid to governments for access to resources.

Leave a comment

Related Articles

Nigeria-British Chamber of Commerce inagurates Atelly as 18th President, unveils programmes

Ray Atelly has been sworn in as the 18th President of the...

Kano guber poll ‘clerical error’: An Appeal Court judgment in a mire of controversy

The past few months have been characterized with legal tussles over the...

Why I did not walk out of Super Falcons before FIFA female World Cup – Waldrum

In a recent podcast interview with ‘On The Whistle’ podcast. Randy Waldrum,...

Niger’s ousted president is being denied food and electricity, says European Union

The European Union Friday said it had “deep concern” about the treatment...

Breaking: Ex-Kaduna Gov. El rufai might reject ministerial appointment 

The immediate past Governor of Kaduna State, Malam Nasir El rufai is...

President Tinubu appoints Ajuri Ngelale as special adviser media & publicity

President Bola Ahmed Tinubu, GCFR, has approved the appointment of Chief Ajuri...

Are ‘balloons’ the new drug epidemic in Nigeria?

They may look like the normal balloons you see at children’s birthday...

From Fame to Penury: The Despicable Tales of Nigerian Veteran Thespians

The entertainment industry, particularly the movie circle, has been in the eye...

Content creation is the new oil, says Broda Shaggi in an exclusive interview with PSN

There are not many in the class of Samuel Animashaun Perry otherwise...

Hubby’s watery sperm, erectile dysfunction crash two-month-old marriage

A husband’s watery sperm has forced his wife to urge the court...

Max Air Acquires 16 Year Old Boeing 777-200

Kano based Max Air Limited has taken delivery of its first Boeing...

From waste collection to classroom: Story of Adamu’s pursuit of education

Coming from the background of a family of seven children and parents...

Fuel Subsidy: Need for Labour to tread softly, Softly 

The Labour Movement in Nigeria is up in arms against the Federal...

Between the dialectics and the benefits of petroleum subsidy removal

By Paul Njowusi For many years, successive administrations in Nigeria had embraced...

Kudos, knocks for courts’ ruling clearing the coast for Tinubu’s May 29 inauguration – PSN exclusive

By Ajuma Edwina Ameh and Samuel Akpan …the body language of the...

Buhari inaugurates N19.6bn Customs corporate hqts in Abuja, says new Customs Act will drive efficiency

With the newly signed Customs Act and a befitting corporate headquarters for...

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals, Lekki-Lagos inaugurated

Africa’s largest refinery, Dangote Petroleum Refinery and Petrochemicals planted in Ibeju-Lekki area...