RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2016-04-03 16:05:00

SHELL & NIGERIA CORRUPTION

SHELL & NIGERIA CORRUPTION

 

NIGERIA OIL FIELDS

 

Dutch investigators have visited Shell's headquarters in The Hague as part of a multinational corruption probe relating to the company's purchase of an oil block off the coast of Nigeria in 2011. 

The international oil company said on Wednesday it was co-operating with officials from both the Netherlands and Italy as they investigate the $1.1bn deal, which Shell signed five years ago alongside Eni, the Italian oil company. Shell said in a statement: "Representatives of the Dutch Financial Intelligence and Investigation Service and the Dutch public prosecutor recently visited Shell at its headquarters.

"The visit was related to OPL 245, an offshore block in Nigeria that was the subject of a series of longstanding disputes with the federal government of Nigeria."

Shell also confirmed it had been placed under investigation by prosecutors in Milan, saying: "Shell is fully co-operating with the Italian authorities and is looking into the allegations, which it takes seriously."

The dispute dates back to the 2011 deal to buy block OPL 245, which has estimated reserves of 9bn barrels and is one of Nigeria's most highly-prized oil assets.

Most of the money paid by the European oil majors went to a London bank account belonging to the Nigerian government. But prosecutors are investigating whether the money then was sent to Malabu Oil and Gas.

Global Witness, the anti-corruption watchdog, has alleged that the ultimate beneficiary of the transaction was Dan Etete, who was minister of petroleum in 1998 when Malabu was awarded the OPL 245 block.

Mr Etete has said he was merely a consultant to Malabu.

Eni has said the "entire payment" was "made uniquely" to the Nigerian government, while Shell has said it acted in accordance with Nigerian law and the terms of the deal it struck with the government there.

Claudio Descalzi, Eni's chief executive, has been under investigation in Italy since September 2014 in connection with the allegations, but has never been charged. Eni did not comment on the latest developments in the case, but has previously denied any "illegal conduct" in the matter.

Dotun Oloko, a Nigerian anti-corruption campaigner, said: "The age of accountability is dawning with this news. Fuelling corruption in Nigeria through shady deals ... will now have consequences." 

ft.com 

----- 

More: 

SHELL NET INCOME DOWN 87% 

NIGERIA PAYS $2.1 BLN 

NIGERIA'S BIG OIL 

NIGERIA'S OIL CRISIS 

NIGERIA'S OIL CRASHING 

NIGERIA SELLS ASSETS 

NIGERIA STOP STEALING 

NIGERIA’S OIL RISKS 

NIGERIA: OIL PRICES 

NIGERIA INCREASES OPEC 

NIGERIA IS HUGE 

SHELL WINS NIGERIA 

NIGERIA NEEDS CAPITAL

 

 

 

 

 

Tags: SHELL, ENI, NIGERIA, CORRUPTION
Chronicle:
SHELL NIGERIA CORRUPTION
2021, June, 10, 12:39:00
Which Actions Can Fuel The Industry: The 7th International LNG Congress Summary
Global view on the LNG industry future, actions in frames of IMO Regulations, alternative fuels for trucks and fleet, opportunities of LNG increase in Europe, and Bio-LNG and LNG-to-Power initiatives have become some of the topics of the 7th International LNG Congress. It was held at the BGS online platform on the 7-8 of June, and gathered more than 500 decision-makers of the LNG industry.
SHELL NIGERIA CORRUPTION
2021, June, 10, 12:38:00
МЕЖДУНАРОДНАЯ КОНФЕРЕНЦИЯ И ВЫСТАВКА "УГОЛЬ РОССИИ И СНГ"
Более 150 руководителей ведущих предприятий угольной промышленности России и СНГ соберет Международная конференция и выставка «Уголь России и СНГ», которая будет проходить 16-17 ноября 2021 в г. Москва Организатор мероприятия: Vostock Capital
SHELL NIGERIA CORRUPTION
2021, June, 10, 12:35:00
U.S. OIL INVENTORIES DOWN 5.2 MB TO 474.0 MB
U.S. commercial crude oil inventories decreased by 5.2 million barrels from the previous week to 474.0 million barrels.
SHELL NIGERIA CORRUPTION
2021, June, 10, 12:30:00
TC ENERGY HAS TERMINATED KEYSTONE
TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) confirmed today that after a comprehensive review of its options, and in consultation with its partner, the Government of Alberta, it has terminated the Keystone XL Pipeline Project (the Project).
SHELL NIGERIA CORRUPTION
2021, June, 9, 12:55:00
OIL PRICE: ABOVE $72
Brent rose 73 cents, or 1%, to close at $72.22 a barrel, WTI rose 82 cents, or 1.2%, to settle at $70.05 a barrel,
SHELL NIGERIA CORRUPTION
2021, June, 9, 12:50:00
OIL PRICES 2021-22: $68-60
EIA forecasts that Brent prices will remain near current levels in 3Q21, averaging $68/b., and $60/b in 2022.
SHELL NIGERIA CORRUPTION
2021, June, 9, 12:45:00
OPEC+ OIL PRODUCTION UP 430 TBD
Despite the production gains, the looser quotas meant OPEC+ compliance stayed mostly steady at 111.45% compared to 111.16% in April,
All Publications »