• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Italian court acquits Shell, Eni in Nigeria corruption case

4 years ago
in Energy, highlights, Home, home-news, latest News
2 min read
0 0
0
55
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

An Italian court acquitted energy firms Royal Dutch Shell and Eni on Wednesday in a massive corruption case.

The long-running case concerns the 2011 purchase of an offshore oil field in Nigeria, with prosecutors alleging the companies paid bribes to secure the field.

What did the court rule?

Judge Marco Tremolada read out the sentence in the Milan court on Wednesday.

He said the companies and 13 defendants charged in the case had been acquitted as there was no case to answer.

Among those charged in the case were current Eni CEO Claudio Descalzi and his predecessor Paolo Scaroni.

Prosecutors called for the managers to be jailed and the companies to be fined, as well as confiscating $1.1 billion from the defendants.

The ruling comes three years after the trial kicked off and after over 74 hearings.

RelatedPosts

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

Public Transport Fares to Rise by 20% From August 8 

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

Wednesday’s ruling could still be appealed.

How has Nigeria responded?

The Nigerian government expressed its disappointment in a statement released shortly after the Italian court’s decision was announced.

“The Federal Republic of Nigeria is disappointed in today’s ruling in Milan, but thanks the Italian prosecuting authorities for their tireless efforts,” a government spokesman said.

An Italian court acquitted energy firms Royal Dutch Shell and Eni on Wednesday in a massive corruption case.

The long-running case concerns the 2011 purchase of an offshore oil field in Nigeria, with prosecutors alleging the companies paid bribes to secure the field.

What did the court rule?

Judge Marco Tremolada read out the sentence in the Milan court on Wednesday.

He said the companies and 13 defendants charged in the case had been acquitted as there was no case to answer.

Among those charged in the case were current Eni CEO Claudio Descalzi and his predecessor Paolo Scaroni.

Prosecutors called for the managers to be jailed and the companies to be fined, as well as confiscating $1.1 billion from the defendants.

The ruling comes three years after the trial kicked off and after over 74 hearings.

Wednesday’s ruling could still be appealed.

How has Nigeria responded?

The Nigerian government expressed its disappointment in a statement released shortly after the Italian court’s decision was announced.

The statement added that Nigeria “will continue to hold those responsible for the OPL 245 fraud accountable.”

The government said it would review the verdict and then consider whether to appeal.

What was the case about?

The case concerned the 2011 purchase of the OPL 245 offshore oilfield in Nigeria.

Shell and Eni paid $1.3 billion (€1.09 billion) to buy the massive oilfield from Malabu Oil and Gas — a firm that was owned by former Nigerian Oil Minister, Dan Etete.

Italian prosecutors argued that $1.1 billion of the purchase price were bribes that landed in the pockets of middlemen and politicians, including former oil minister Etete.

Prosecutors also argued that Shell and Eni knew that most of the money was being used towards bribes. Both firms have denied the charges.

The case landed in court after three anti-corruption NGOs brought a complaint before prosecutors in Milan.

Tags: EniEni CEO Claudio DescalziNigeria corruption caseoffshore oil field in NigeriaShell
No Result
View All Result

Highlights

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

Transfer DealSheet: Latest on Benjamin Sesko, Nicolas Jackson and More

Gov’t Targets 650,000 Tonnes of Cocoa Production for 2025/26 Crop Season, Eyes 1 Million Tonne Output in the Long-term 

Shoprite to Exit Ghana and Malawi Sharpening Focus on Core South African Market

Gold Fields Forecasts Total Gold Production of 2.4 Million Ounces for 2025

Trending

Features

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut

August 5, 2025

Bright Simons Questions Policy Rationale Behind Communications Minister’s Demand for 30% DSTV Price Cut Renowned public policy...

Public Transport Fares to Rise by 20% From August 8 

August 5, 2025

Shipping Giant, Maersk ends Direct US Trade Route to Africa’s Largest Economy

August 5, 2025

Africa’s Biggest Stock Exchange Considers Extending Trading to 24 Hours

August 5, 2025

Lewis Hamilton’s Future at Ferrari in Question After Tough Hungarian GP

August 5, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.