• 3 minutes China's aggression is changing the nature of sovereignty.
  • 8 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 9 minutes US oil facts
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Europe gas market -how it started how its going
  • 2 hours Amazing!...see article: "Turkmenistan To Close "Gates Of Hell" Gas Fire" by Irina Slav
  • 2 days Russia oil production live month after month starting from November 2021 - official stats from Rosstat agency
  • 2 days Is $100 Crude Bad For US Shale? That's what Oil CEOs Say
  • 17 hours Ukrainian Maidan after 8 years
  • 2 days Nuclear power in Russia

Nigeria Bribery Case Ends In Victory For Shell, Eni

An Italian court has ruled that oil giants Royal Dutch Shell PLC and Eni SPA are not guilty in a bribery case involving a Nigerian oilfield that has spanned years, according to the Wall Street Journal.

Shell, Eni, and Eni’s CEO Claudio Descalzi, have been on trial for years in the infamous OPL 245 case. Shell, Eni, Descalzi, and others, were accused of knowing that more than $1.1 billion of the $1.3 billion deposited a decade ago into an escrow account controlled by the Nigerian government would eventually be used as bribes to secure oil drilling rights.

A UK judge dismissed a similar case over the same deal in its courts last year.

Eni and Shell have consistently said that they knew nothing about the bribes, although two middlemen in Shell and Eni were found guilty of corruption years ago in a separate trial over OPL 245.

The years-long court battle in the UK and Italy is now finally behind the oil majors.

Nigeria was hoping to net a billion from the court case—a needed windfall since OPL 245 was, for the most part, never developed.

But the battle between Shell and Nigeria is hardly over, after a Dutch court in January ruled that Nigerian citizens could sue the oil major for oil leaks in the area.

Shortly after that ruling, Shell’s CEO Ben van Beurden said it would take a hard look at its operations onshore Nigeria after being hit with chronic issues with theft, illegal refining, and sabotage in the Niger Delta—the likely cause of several of the leaks that it may now be sued over.

Shell continues to operate some 340 oil wells across Nigeria.

By Julianne Geiger 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