• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 15 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days Does Toyota Know Something That We Don’t?
  • 5 days World could get rid of Putin and Russia but nobody is bold enough
  • 1 day America should go after China but it should be done in a wise way.
  • 7 days China is using Chinese Names of Cities on their Border with Russia.
  • 8 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 8 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 7 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 8 days Putin and Xi Bet on the Global South
  • 8 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 9 days United States LNG Exports Reach Third Place
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Eni, Shell To Stand Trial Over Alleged Corruption In Nigeria

An Italian judge ordered on Wednesday oil majors Eni and Shell, as well as Eni’s CEO Claudio Descalzi and other former and present managers at Eni and Shell, to stand trial over alleged $1.3-billion corruption in an acquisition of an oil block in Nigeria back in 2011.

Giusy Barbara, a preliminary hearing judge at a Milan court, set the trial to begin on March 5, 2018, in Milan.

In February this year, Italian prosecutors asked for Eni, Shell, Descalzi, and ten others to stand trial over charges of alleged international corruption over alleged payment of US$1.3 billion in bribes to the former Nigerian government in 2011, for which Eni and Shell allegedly secured exclusive rights to develop the oil block OPL-245 offshore Nigeria.

Today, Eni and Shell were ordered to stand trial under the Italian legislation that mandates companies be liable for crimes committed by directors and executives when a suspected unlawful conduct has benefited the legal entity.

The people who will stand are a dozen and include—apart from Eni’s current CEO Descalzi—his predecessor Paolo Scaroni, former Shell managers Malcolm Brinded, Peter Robinson, Guy Colgate, and John Coplestone, three former Eni managers—Roberto Casula, Vincenzo Armanna, and Ciro Antonio Pagano, as well as some alleged intermediaries—Luigi Bisignani, Gianfranco Falcioni, and Ednan Agaev.

Both Shell and Eni have always denied any wrongdoing, and issued statements following the judge’s ruling today.

“We are disappointed by the outcome of the preliminary hearing and the decision to indict Shell and its former employees. We believe the trial judges will conclude that there is no case against Shell or its former employees,” Shell said, adding that “There is no place for bribery or corruption in our company.”

Eni, for its part, said:

“Eni’s Board of Directors has reaffirmed its confidence that the company was not involved in alleged corrupt activities in relation to the transaction”.

“The Board of Directors also confirmed its full confidence that chief executive Claudio Descalzi was not involved in the alleged illegal conduct and, more broadly, in his role as head of the company. Eni expresses its full confidence in the judicial process and that the trial will ascertain and confirm the correctness and integrity of its conduct,” the Italian company said.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News