Chloe TaylorPublished Fri, Mar 1 2019 6:23 AM ESTUpdated Sun, Mar 3 2019 8:34 PM EST
Shell will be prosecuted for criminal charges relating to a $1.3 billion settlement for an oil exploration licence in Nigeria, and has also been summoned by prosecutors to face charges over chemical emissions and an explosion.
The Dutch Public Prosecutor’s Office (DPP) informed Shell it is nearing the conclusion of an investigation into the case and is preparing to prosecute the oil giant, the company said in a statement on its website Friday.
Shell and Italian oil firm Eni were accused of bribery in 2017 over a $1.3 billion payment that secured an exploration licence for an oil block, known as OPL 245, in 2011. It was alleged that although the funds were paid to the Nigerian government, the money actually went to Malabu Oil and Gas — a company linked to former oil minister Dan Etete.
Eni CEO Claudio Descalzi and four ex-Shell managers are also facing charges of international corruption in Italy, where prosecutors allege they were aware that payments would be pocketed by individuals rather than the Nigerian government.
Shell and Eni have both denied any wrongdoing.
In an emailed statement, the DPP told CNBC Friday: “On the basis of the ongoing criminal investigation, the Public Prosecution Service concluded that there are prosecutable offenses. We are not yet able to make any announcements about the further course of the case.”
Shell to be prosecuted with criminal charges over Nigerian oil deal
Chloe TaylorPublished Fri, Mar 1 2019 6:23 AM ESTUpdated Sun, Mar 3 2019 8:34 PM EST Shell will be prosecuted for criminal charges relating to a $1.3 billion settlement for an oil exploration licence in Nigeria, and has also been summoned by prosecutors to face charges over chemical emissions and an explosion. The Dutch Public… [Read More]
