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October 2nd, 2014:

Eni payments ‘used to bribe Nigeria officials’

Screen Shot 2014-09-11 at 23.20.44The article notes the involvement of the metropolitan police, but surely this is beyond the remit of the police involved? Where are the Dutch police, Interpol and Europol in this affair? Where is the SEC, and the authority that enforces the FCPA? It is simply not enough to say that Shell is “not under investigation”.

FROM A REGULAR CONTRIBUTOR

John

I don’t know if you saw yesterday’s article (below) in Upstream about the Nigerian OPL245 case, but it seems that a large number of the Malabu payments have been traced.

If the article is to be believed (and Upstream is usually quite good) it appears that Shell was unaware of the payments being made on behalf of their joint venture with ENI. If they really did not know that these payments were being made, Shell were not acting in the interests of their shareholders – it is hard to believe that Shell really agreed to pay their share of $600 million out of a total of $1.2 billion without investigating where the funds were going. read more

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