Nigeria : Court rejects Nigeria’s $1.1bn damages request against Eni, Shell
on 2022/11/12 12:55:12
Nigeria

Click to see original Image in a new window
The main case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011 in Nigeria.



An appeals court in Milan has rejected Nigeria’s $1.1bn compensation request against Italian energy group Eni and British oil and gas company Shell in civil proceedings relating to a $1.3bn oilfield deal.

In July, prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as top managers, including Eni Chief Executive Claudio Descalzi, in one of the global oil industry’s biggest alleged corruption cases.

“We are pleased that these civil proceedings have been dismissed,” Shell said in an emailed comment to the Reuters news agency.

“This follows the Milan criminal tribunal’s finding that there was no case to answer for Shell or its former employees when they were fully acquitted in 2021, a decision that was upheld in July 2022, when criminal proceedings ended,” it added.

Eni had no immediate comment.

The main case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011 for $1.3bn, to settle a longstanding dispute over ownership.

Prosecutors alleged that about $1.1bn of the total amount was siphoned off to politicians and middlemen in Nigeria, then Africa’s largest oil producer.

The oil bloc was initially owned by a local company where controversial former Petroleum Minister Dan Etete had major stakes.

A lawyer representing Nigeria in the proceedings added the country was still deciding whether to appeal the decision at Italy’s top administrative court.Documents explaining the reasons behind Friday’s decision will be made available in 90 days.

Previous article - Next article Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2023/1/30 15:22:40 - Biafra Referendum: Court fixes March 30 for suit on self-determination
2023/1/30 15:10:00 - Nigerian Army Eliminates Boko Haram Top Commander, Abu Illiya, 31 Others During Fresh Clash In Borno
2023/1/30 13:10:39 - UN Projects 3% Economic Growth For Nigeria
2023/1/30 12:30:00 - Shocking IMF report reveals Angola and Ethiopia to surpass Kenya as top economies in Sub-Saharan Africa
2023/1/30 11:21:03 - South Africa’s support underscores Moscow’s propaganda success
2023/1/30 10:35:02 - Ending load-shedding South Africa's 'most immediate' challenge: Ramaphosa
2023/1/22 14:52:46 - Chinese New Year: Buhari celebrates with President Xi
2023/1/22 14:50:51 - Federal Govt Boosting Nigeria’s Presence In ECOWAS With Permanent Mission
2023/1/22 12:59:14 - How insecurity could decide who becomes Nigeria’s next president
2023/1/22 11:50:25 - Kenyan security forces kill 10 suspected al-Shabab fighters
2023/1/22 10:59:10 - South Africa to Hold Naval Drill With Russia and China Amid Ukraine War
2023/1/22 10:19:37 - Electricity outages compound ANC government crisis
2023/1/9 10:46:26 - Nigerian Army Appoints New Commander For North-East Operation Against Boko Haram, ISWAP
2023/1/8 15:00:00 - Biden na neman kama shugaban al-Shabaab
2023/1/8 14:55:56 - US Issues Demands on Kenya & Other Parties in DRC Peace Talks
2023/1/7 12:03:19 - South Africa, Russia, China to conduct joint exercise in February
2023/1/3 11:27:38 - Jonathan, Oyedepo, 12 Other Nigerians Make ‘100 Most Reputable Africans’ List
2023/1/3 11:07:15 - El-Zakzaky blames US for terrorism in Middle East
2023/1/2 11:07:13 - Kenyans start enjoying Visa-free travel to South Africa
2023/1/2 11:00:00 - Kenya's two year term at Security Council comes to an end

The comments are owned by the author. We aren't responsible for their content.