Both ENI and Shell "fully aware"of corruption surrounding OPL245 scandal
- 1 month ago
According to Milan judge, Giusy Barbara, both Italian oil company ENI and Dutch counterparts Shell, both were aware of the corruption surrounding the acquisition of a Nigerian oilfield in 2011.
“The management of oil companies Eni and Shell ... were fully aware of the fact that part of the $1.092 billion paid would have been used to compensate Nigerian public officials who had a role in this matter and who were circling their prey like hungry sharks,” read the note, outlining the reasons behind the sentencing of middlemen Emeka Obi and Gianluca Di Nardo, both serving a four-year sentence.
Both ENI and Royal Dutch Shell were involved in the $1.3 billion acquisition of the OPL245 oilfield and judge Barbara didn’t mix her words in pointing out the obvious, “It was not mere connivance, but a conscious adhesion to a predatory project damaging the Nigerian state.”
She also highlighted the harm the deal has caused to the Italian oil giant, which is listed as the world's 11th largest industrial company with a market capitalization of 68 billion euros, “Things look even more serious from an Italian point of view with the involvement of the country’s leading company, in which the Italian state is the biggest shareholder, with obvious reputational damage for the whole Italian community.”
Source: Smart Trend Team