By March 31, 2016 0 Comments Read More →

Shell role in purchase of Nigerian oil block under investigation by Italian officials

Shell, Eni bought OPL 245 in 2011 for over $1 billion

Shell

Shell and the Italian oil firm Eni both have denied wrongdoing in the purchase.  Shell photo.

LAGOS, Nigeria _ Royal Dutch Shell says Italian officials are investigating its role in the purchase of an offshore oil block in Nigeria for more than $1 billion.

Shell and the Italian oil firm Eni bought the block known as OPL 245 in 2011. Activists including the watchdog group Global Witness say the money ultimately went to a company secretly owned by a former Nigerian oil minister and never reached state coffers.

Global Witness and other groups filed a complaint in 2015 with the public prosecutor in Milan that the group says describes Shell’s role in the transaction.

Eni was already being investigated. Both firms have denied wrongdoing.

In a statement this week, Shell said officials searched its headquarters in The Hague in February and that it was co-operating with officials.

The Canadian Press

Posted in: Energy News

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