• 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

Why court rejected Nigeria’s $1.1bn compensation request against Shell, Eni

3 years ago
in Energy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
60
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Why court rejected Nigeria’s $1.1bn compensation request against Shell, Eni

An appeals court in Milan, Italy today (Friday) rejected Nigeria’s $1.092 billion compensation request against Shell and the Italian energy group Eni, in civil proceedings relating to a $1.3 billion oilfield deal.

The decision was read out in court. In July, prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi, in one of the oil industry’s biggest alleged corruption cases.

Shell, in a statement to SlyeNews said: “We are pleased that these civil proceedings have been dismissed. This follows the Milan criminal tribunal’s finding that there was no case to answer for Shell or its former employees when they were fully acquitted in 2021; a decision that was upheld in July 2022, when criminal proceedings ended.

“We have always maintained that the 2011 settlement related to OPL 245 was legal. At the time the appeal was withdrawn, the Milan public prosecutor acknowledged that there was no evidence of a corrupt agreement or corrupt payments, that this case should end because it has no foundations, and that the defendants have the right to see the end of criminal proceedings, having endured seven years of suffering.”

Eni, in a official comment made available to SlyeNews said: “Eni expresses its satisfaction with the decision of the Milan Court of Appeal today which, confirming in the first degree, rejected the appeal made by the Nigerian Civil Party aimed at obtaining compensation for the procedure on the acquisition of the OPL24 block and required Nigeria to pay legal fees.

“The Milan Court of Appeal also declared “inadmissible” the appeal of the Milan Public Prosecutor against the acquittal sentence “because the fact does not exist” regarding a claim made against Eni and its management in March 2021 by the Court of Milan.

RelatedPosts

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

Eni recalls the Attorney General had already determined the res judicata of the acquittal sentence in the first instance with the waiver of the reasons for appeal formulated by the Public Prosecutors.

“Finally, Eni recalls that it has promoted ICSID international arbitration in Washington against Nigeria for the protection of its OPL245 license with respect to the overall detrimental consequences suffered in the affair,” it stated.

The main case revolved around a deal in which Eni and Shell acquired the OPL 245 offshore oilfield in 2011 to settle a long-standing dispute over ownership.

Prosecutors alleged that just under $1.1 billion of the total amount was siphoned off to politicians and middlemen.

A lawyer representing Nigeria in the proceedings added the country was still deciding whether to appeal the decision at Italy’s top administrative court.

Today’s verdict was part of civil proceedings in the same Italian court (Court of Appeal) that, in July 2022, confirmed the acquittal of Shell entities and four former Shell employees of all criminal charges on the grounds that there was no case to answer.

The lower court (Milan Tribunal) ruling in March 2021 applied to both criminal and civil (FGN) claims.

The criminal and civil claims were then brought to the Court of Appeal where the criminal appeal was withdrawn in July 2022 (ending all criminal proceedings, with no possible/further appeal avenues available); and November 11 is essentially part 2 of the appeal: the Court of Appeal has decided on the civil claim.

The Federal Republic of Nigeria was admitted as a civil claimant into these proceedings by the tribunal in July 2018. In September 2018, Shell was joined to the proceedings as the civilly responsible party for the damages caused by the alleged illegal acts of the four former Shell employees.

Three other Shell entities (Shell UK Ltd, Shell Petroleum Development Company of Nigeria Ltd. and Shell Exploration and Production Africa Ltd.) also joined the proceedings as responsible civile for their respective former employees at that phase of the proceedings.

In March 2021, Shell and four of its former employees were acquitted by the Milan Tribunal of all charges related to the 2011 OPL 245 settlement.

Tags: EniNigeriaShellWhy court rejected Nigeria’s $1.1bn compensation request against Shell
No Result
View All Result

Highlights

Osaka and Keys Advance to Quarter-Finals at Canadian Open

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

Cedi Appreciation Triggers 50% Drop in Remittance Inflows

Inflation Drops 160 basis points to 12.1% in July, Lowest Rate Since October 2021

Kwaku Azar Writes: Is Another SML Brewing at GACL?

GRA Refutes NIA’s Debt Claims, Cites Lack of Regulatory Approval and Service Agreement

Trending

Features

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash

August 6, 2025

Government Orders Flags at Half-Mast as Nation Mourns Defence, Environment Ministers & Others in Helicopter Crash Ghana...

Defence Minister and Environment Minister Among 8 Confirmed Dead in Military Helicopter Crash

August 6, 2025

Serie A Players Face 25% Pay Cut if Relegated Under New Agreement

August 6, 2025

Osaka and Keys Advance to Quarter-Finals at Canadian Open

August 6, 2025

Ghana Armed Forces Helicopter Crashes in Adansi Akrofuom, 8 Feared Dead 

August 6, 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.