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Nigerian lawmakers recommend revoking Shell, Eni OPL 245 oil block licence

Extract from an article published by Platts 20 Feb 2014

Screen Shot 2014-02-10 at 16.29.29A global anti-corruption crusader Global Witness in late 2012 said that Shell and Eni may run foul of UK legislation over the acquisition of the oil block, on grounds that the the transaction ran counter to the anti-bribery legislation in the UK as well as the US and Italy, since the payment ended up with a company controlled by Etete, who had been convicted in France for money laundering, Platts previously reported. “Though Shell and Eni paid the Nigerian government, funds were then transferred shortly after to a company controlled by ex-Oil Minister, Dan Etete, who in 2007 was convicted in France of money laundering,”

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