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Shell, Eni and Nigerian Corruption

Malabu Oil Deal: prosecutors say that a senior official of Shell had a face-to-face meeting with Etete over expensive “lunch and lots of iced champagne”: Italian prosecutors said some of the $533 million slush money was used to buy private jets…

By John Donovan

The litigation involving former Nigerian oil minister, Dan Etete, who has already been convicted for money laundering in France, continues.

Etete tried to hide his link with the now notorious company, Malabu Oil and Gas, which he registered using a fictitious director, Kweku Amafegha, and a fake address.

According to a Reuters report, more than half of the $1.1 billion paid to Malabu Oil and Gas for the procurement of one of Nigeria’s richest oil fields, OPL 245 by Shell and Eni, was used to bribe Nigerian politicians and intermediaries who helped to secure the controversial deal.

Despite overwhelming evidence showing that Shell and Eni were aware that the money would be paid to a person with a dubious background – namely Dan Etete, officials of  Shell and Eni have denied any wrong doing.

However, prosecutors say that a senior official of Shell had a face-to-face meeting with Etete over expensive “lunch and lots of iced champagne” a few months before the money was transferred to the Nigerian government.

An email presented during the trial also mentioned that the Shell official who feted with Etete would refer to someone in The Hague known as “Peter” over the terms of the deal. 

According to a letter seeking the help of UK’s Crown Prosecution Service (CPS) to freeze the assets of those involved, Italian prosecutors said some of the $533 million slush money was used to buy private jets and armored vehicles.

SOURCE ARTICLE

SHELL IS ALSO BEING INVESTIGATED FOR ALLEGED TAX EVASION IN NIGERIA.

INVOLVES AN ALLEGED BRIBERY SCAM

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1 Comment on “Shell, Eni and Nigerian Corruption”

  1. #1 jnffarrell1
    on Oct 9th, 2014 at 14:14

    Rights to partner with corrupt governments who exploit the rumor of national progress for the gain of a few are worthless.

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