• 10 hours Oil Falls As Trump Tweet Blasts OPEC
  • 2 days Comey vs.Trump, Part 2: Comey's Memos. What's next?
  • 2 hours Asian Oil Demand To Hit Record - The Price Per Barrel Continues To Grow
  • 2 days Trump's top energy adviser resigns
  • 2 days Vistra Energy Says Coal Won't Come Back
  • 2 days Walmart and VW's Electrify America Team Up To Build Massive EV Charging Network Across US
  • 2 days Net Income At Saudi Aramco Tops $33 bn in the first half of 2017!
  • 1 day HAPPY RIG COUNT DAY!!
  • 1 day Robot Completes Hardest Job Known to Man
  • 2 days New task force formed-to evaluate postal service
  • 2 days Oil Prices To Fall Below $60?
  • 2 days Is Today's Tesla News Good or Bad?
  • 2 days will oil hold?
  • 1 day The future of oil and gas exploration in New Zealand
  • 1 day Venezuela gives Oil Minister 'Extra Powers' to halt production decline
  • 1 day Maduro Under Pressure: EU Says May Impose More Sanctions On Venezuela If Democracy Undermined
The Bearish Case For Oil Stocks

The Bearish Case For Oil Stocks

Oil stocks have seen a…

$100 Oil Is Back On The Table

$100 Oil Is Back On The Table

There are once again whispers…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Italian Prosecutors Want Trial For Eni Over Alleged Corruption In Nigeria

Eni

Italian prosecutors asked on Wednesday for Italian oil major Eni SpA (NYSE:E), its chief executive Claudio Descalzi, and 10 other people to be sent to trial over charges of alleged international corruption, according to judicial sources.

According to Italian daily La Stampa, prosecutors in Milan asked today for trial for Descalzi, Eni’s former CEO Paolo Scaroni, and other people - including managers and mediators - over alleged payment of US$1.3 billion in bribes to the former Nigerian government back in 2011, for which Eni and Royal Dutch Shell (NYSE:RDS.A) secured exclusive rights to develop the oil block OPL-245 offshore Nigeria.

The prosecutors also ask for the companies, Eni and Shell, to be sent to trial under the Italian legislation that companies are liable for crimes committed by directors and executives when a suspected unlawful conduct has benefited the legal entity.

According to the prosecutors, back in 2011 Eni had allegedly paid US$1.092 billion and Shell – another US$200 million to a current account of the Nigerian government.

At the time of those events, Descalzi was a manager at Eni and was named chief executive in May 2014.

According to La Stampa, Descalzi was questioned two times as part of the investigation and has always denied any wrongdoing.

Related: It’s Time For Big Oil To Embrace The Digital Age

According to Corriere della Sera, now a preliminary hearing judge in Milan has to decide whether to send to trial any of the people or companies cited and suggested by the prosecutors.

A few months ago, Eni, oil services group Saipem and former Eni CEO Scaroni were sent to trial over bribes Saipem had allegedly paid in Algeria a few years ago in order to obtain oil and gas contracts.

By Tsvetana Paraskova for Oilprice.com

More Top Reads from Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News