The British police are probing an allegation that a $1.3 billion
Nigerian oil bloc deal involving Royal Dutch Shell and Italy's Eni SpA
may have involved money laundering. Most of the money was allegedly paid
to a company linked with Nigeria’s former Minister of Petroleum Dan
Etete. Nigerian President General Sani Abacha appointed Etete Minister
of Petroleum in March 1995 and he served in that role until 1998, when
he went into exile following Abacha’s death. In 2007 Etete was convicted
of money laundering in France.
Last week a British High Court issued a judgment, Shell and its by-then-partner ENI paid the federal government $1.3 billion, including a $207 million signature bonus paid into a government account, in return for the right to operate the offshore OPL 245 bloc concession. A Shell subsidiary paid the signature bonus, and an ENI subsidiary paid the $1.1 billion balance. The court further ruled that convicted felon Etete should pay at least $110.5 million to Emeka Obi, the owner of Energy Venture Partners for helping him facilitate the sale of OPL-245.
oilprice.com/Energy/Energy-General/British-Police-Investigating-1.3-Billion-Shell-ENI-Nigerian-Oil-Bloc-Corruptio.html
Last week a British High Court issued a judgment, Shell and its by-then-partner ENI paid the federal government $1.3 billion, including a $207 million signature bonus paid into a government account, in return for the right to operate the offshore OPL 245 bloc concession. A Shell subsidiary paid the signature bonus, and an ENI subsidiary paid the $1.1 billion balance. The court further ruled that convicted felon Etete should pay at least $110.5 million to Emeka Obi, the owner of Energy Venture Partners for helping him facilitate the sale of OPL-245.
oilprice.com/Energy/Energy-General/British-Police-Investigating-1.3-Billion-Shell-ENI-Nigerian-Oil-Bloc-Corruptio.html
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