Even for a company the size of JPMorgan Chase, it might to be hard to miss a sum of $1.1 billion zipping across a client’s account. That’s the argument currently winding its way through U.K. courts in London, where the government of Nigeria is suing the biggest U.S. bank, arguing that oil giants Royal Dutch Shell and the Italian company Eni paid that amount to allegedly corrupt Nigerian officials in 2011 for a license to drill in a hugely rich offshore oil block—and that JPMorgan ought to have blocked the deposits.read more
Although Shell and ENI initially claimed they did not know the money would end up with Mr Etete and his cronies, evidence has shown that claim to be false.
A major witness in the long-running Malabu oil scandal on Wednesday told an Italian court that Eni officials knew that the controversial payment made in the deal would go to Malabu oil company, controlled by Nigeria’s former oil minister, Dan Etete.
Vincenzo Armanna, former Eni manager and defendant in the corruption trial, said in his testimony that it was clear to everyone involved in the deal that Mr Etete would get over $1 billion, adding that there was no doubt the money was going to Malabu.read more
The new claim, dated April 8 and signed by Jonathan Cary, was filed against 14 defendants, including Shell, Eni, Malabu and their respective subsidiaries. Shell and ENI initially claimed they did not know the money would end up with Mr Etete and his cronies, evidence has shown that claim to be false. After a joint investigation by Global Witness and Finance Uncovered, Shell later admitted it did know the money would go to Mr Etete.
The Nigerian government is seeking about $3.5 billion in damages from oil giants Eni and Shell over the controversial Malabu oil deal, PREMIUM TIMES has gathered.
The new claim is contained in a London court filing by the Nigerian government against the two oil multinationals and other parties involved in the long-running case.
The court documents, obtained by this newspaper’s London partners, Finance Uncovered, and seen by PREMIUM TIMES, shows the government also alleged that the Malabu deal was “corrupt” and not done in the interest of Nigeria.read more
April 25, 2019: An analysis by oil consultancy firm, Resources for Development, says oil giants Shell/Eni’s deal for the controversial OPL 245 included “unprecedented terms” which funded an alleged bribery scheme.
The analysis was commissioned by four non-governmental groups — Global Witness, HEDA, Re:Common and The Corner House — based on publicly available documents.
This included Shell and Eni’s valuations of the oil block, according to a statement released by the NGOs on Thursday.read more
Last week, Royal Dutch Shell (RDSB) revealed that it is facing charges in the Netherlands relating to corruption allegations surrounding a Nigerian oil bloc called OPL 245. Shell and Italian major ENI SpA (ENI.IM) acquired the licence in 2011 for around $1.3bn (£992m), but it’s alleged that a significant proportion of the monies was destined for use as kickbacks for politicians and officials, with former Nigerian oil minister Dan Etete – a convicted money launderer – acting as the principal intermediary. Although the funds were paid to the Nigerian government, it’s claimed that they found their way into the coffers of Malabu Oil and Gas — a company linked to Mr Etete.read more
Both companies are also in court in London, where the Nigerian government is suing for more than $1 billion in an attempt to reclaim the money it says belongs to the Nigerian people.
Published: Monday, 04 March 2019
Royal Dutch Shell is to be prosecuted in the Netherlands over alleged corruption in a US$1.3 billion Nigerian oil deal, a case already standing trial in Italy.
Shell announced on Friday that the Dutch Public Prosecutor’s Office is preparing to prosecute “for criminal charges directly or indirectly related” to the deal.read more
The investigation into corruption by Shell in Nigeria has not yet been completed, but according to the current investigation, according to the Public Prosecution Service, there are already prosecutable offences.
Printed below is an English translation of an article published today by the Dutch Financial Times, Financieele Dagblad.
Public Prosecution Service is taking Shell’s attention
The Dutch State will prosecute Shell in two separate cases. The oil and gas multinational is under fire from the Public Prosecution Service (OM) because of possible bribery in Nigeria in 2011 and because of an explosion in June 2014 at Shell Moerdijk. The Public Prosecution Service has announced this on Friday.
Shell has already been summoned for the explosion in Moerdijk. Shell is also being taken to court for a leak of the toxic substance ethylene oxide.
Corruption in Nigeria
The investigation into corruption by Shell in Nigeria has not yet been completed, but according to the current investigation, according to the Public Prosecution Service, there are already prosecutable offences.read more
Justice invaded the Shell headquarters in The Hague three years ago. Last March, Shell itself filed a report against the Australian former director Peter Robinson, who may have been guilty of corruption in Nigeria. However, that case is about another oilfield.
English translation of an article published today in Dutch by nrc.nl
‘Dutch Public Prosecution Service (OM) starts a criminal case against Shell for bribery in Nigeria’
It is a $ 1.3 billion oil deal from 2011, according to Shell. Some of that money would have ended up with high officials.
Steven Musch: March 1, 2019 at 9:58
The Dutch Public Prosecution Service is going to prosecute oil company Shell for illegal activities in Nigeria, reports the oil company on its website.
The Public Prosecution confirms this but does not yet want to say whether and when a summons is issued.
The company has been informed by the judicial authorities that they are working on criminal prosecution and that the investigation has almost been completed.read more
In September 2017, four foreign NGOs filed a declaration in the Netherlands against Shell, Van Beurden and three (former) directors. According to lawyer Barbara van Straaten of the law firm Prakken d’Oliveira, this declaration was added to the current investigation by the Public Prosecution Service.: Almost a year ago, Shell itself filed a statement against former director Peter Robinson. According to the group, the Australian would have been guilty of corruption in Nigeria. Robinson is one of the four former Shell employees who stand trial in Milan. Justice in the US and stock market watchdog SEC were also informed.
English translation of a Dutch article published today by ncr.nl
The question is: did Shell know that the money ended up with the politicians?
Corruption The bulk of the purchase price for the Nigerian oil field OPL 245 ended up in the pockets of politicians. Justice thinks it has enough evidence to prosecute Shell.
Hester van SantenErik van der Walle: 1 March 2019 at 1:00
Shell is being prosecuted in the Netherlands because of possible corruption in Nigeria. The oil and gas company announced on Friday morning that it has been informed about this by the Public Prosecution Service (OM). According to a spokesperson for the Public Prosecution Service, “offences” have been committed and there is “enough to prosecute”. The spokesman states that the investigation has almost been completed.read more
…any settlement without a full and clear statement of facts and admission of guilt would be contrary to the interests of open justice.
By Wale Akinola: 20 JAN 2019
Four Non-Governmental Organisations (NGOs) have written to the Minister of Justice of The Netherlands to warn against out-of-court settlement in the case instituted by The Netherlands government against Royal Dutch Shell Plc (RDS) and Shell Petroleum over the acquisition of the OPC 245 oil and gas field in Nigeria.read more
The Premium Times report (below) on the MALABU SCANDAL mentions a Shell internal memo from Donny Ching that John Donovan recently supplied to Reuters, who confirmed its authenticity with Shell.
Nigerian Emeka Obi and Italian Gianluca Di Nardo sentenced to four years in prison as judge orders seizure of more than $120m: …this judgment will send shivers down the corporate spines of the oil industry — and will surely alarm Shell and Eni employees and shareholders who have been repeatedly told that there was nothing amiss with the OPL 245 deal.
Italian prosecutors allege that hundreds of millions of dollars from the 2011 sale of a field was distributed as bribes ( Reuters )
Two middlemen have each been sentenced to four years in prison for corruption offences in the first ruling of a huge bribery trial involving oil giants Shell and Eni. A judge also ordered the seizure of more than $120m from the pair.
Nigerian Emeka Obi and Italian Gianluca Di Nardo were convicted of international corruption by a Milan court for their role in a $1.1bn deal for rights to one of Nigeria’s most promising oil blocks.read more
Thursday, September 20, 2018 19.36PM / By Global Witness
Conviction in middlemen’s fast-tracked OPL 245 trial a poor omen for Shell and Eni’s defence just days before major bribery trial hears first prosecution witnesses.
Today two middlemen have been found guilty of corruption offences relating to Shell and Eni’s 2011 deal for one of Nigeria’s most promising oil licenses. The judgement was first reported by Reuters who cited a legal source.
The two middlemen Emeka Obi and Gianluca Di Nardo have been sentenced to four years jail time and confiscations of over €100 million. The pair had opted for a fast tracked trial for their role in the deal. The fast track process in Italian law offers a possible reduction in any sentence. A larger trial including Shell, Eni and 13 other defendants is ongoing. The prosecution will start presenting their evidence next Wednesday.read more
…this judgment will send shivers down the corporate spines of the oil industry – and will surely alarm Shell and Eni employees and shareholders who have been repeatedly told that there was nothing amiss with the OPL 245 deal.”
A Nigerian man and his accomplice in Italy were on Thursday sentenced to four years each for their roles in the controversial Malabu oil deal, marking the first victory for Italian prosecutors in the complex corruption case.
The deal, struck in 2011 under President Goodluck Jonathan, saw the Nigerian government stand as a negotiator in the controversial sale of OPL 245 oil block in offshore Nigerian waters.
Two international oil and gas giants, Royal Dutch Shell and Italian Agip-Eni, paid out about $1.1 billion to Dan Etete, a former Nigerian petroleum minister who had previously been convicted of money laundering in France.read more
The trial starts this week, with defendants that include former Shell Vice President for sub-Saharan Africa Peter Robinson, and former company board member Malcolm Brinded.
BY JOHN SMITHIES, EPOCH TIMESSeptember 17, 2018Updated: September 17, 2018
LONDON—Senior executives from oil giants Royal Dutch Shell and Eni are facing corruption charges in Milan over a $1.3 billion deal for a huge African oil field.
Italian prosecutors allege that $1.1 billion from the deal didn’t go to Nigeria, where the oil field OPL 245 is located, but to accounts belonging to former oil lawmaker Dan Etete. Etete is accused of subsequently distributing hundreds of millions of dollars to others as bribes, including to former Nigerian President Goodluck Jonathan.read more
Giant oil companies, offshore accounts, ex-MI6 agents, champagne lunches, a former Nigerian president and allegations of one of the biggest bribes ever paid – the corruption case against Shell and Italy’s Eni filed by prosecutors in Milan over a shady $1.3bn deal for a vast African oil field has could have been lifted from the pages of an espionage thriller.
The latest developments thicken the plot further with a cache of documents seized in a raid on a Swiss financier’s apartment that could be crucial to the case, leaving prosecutors in a race against time to get them to Milan as trial hearings get underway this week.
The Geneva raid uncovered a briefcase belonging to Emeka Obi, a middleman who received millions of dollars from the deal and is in the dock along with several senior Shell and Eni executives.
Inside the briefcase, Swiss prosecutors found a laptop, two Nigerian passports, five sim cards and a hard drive containing 41,000 documents that prosecutors believe could be crucial to the trial playing out on the other side of the Alps.read more
BG Alumni: It's about time Bonus Group and Bogus Group moved on. This website is repaidly becoming all baout the bitter and twisted.I can't imagine how that idea was fostered.
Bonus Group: For a further example of outstanding performance by BG Group Alumni, London Lad need look no further than Sound Energy where the share price has plummeted from £0.935 in February 2017 to £0.0335 December this year. This remarkable performance, however, does not detract from the Directors' and the Senior Managers' whopping salaries and bonuses. One can barely hear oneself think above the slurping and grunting at the trough.
Bogus Group: Interesting news article. “Network Rail are well into devolving and restructuring the organisation so that all activities and roles are closer to passengers in order to drive up train performance”. In 2018, many UK train commuters had a tough time with timetable schedules, journeys that didn’t leave or arrive on-time and delays due to major projects.
Could this revival be attributed to the previous chief executive and one of the former Shell and BG Group ‘chosen few’, stepping down from his role?
Bonus Group: To put London Lad's rather naive comments into context. In the final days before the Executive Chairman, Andrew Gould 'pulled the plug' on the whole shooting match, at a Town Hall Meeting, the Chief Operating Officer, Sami Iskander, stood up and announced, to anyone who could be bothered to listen, that the company had spent £200MM assuring work which later cost them £2Bn because it was wrong. An absolutely, stellar performance. The people responsible for this are now deeply embedded within Shell's matrix organisation. An excellent result for the shareholders. Perhaps, a Bridge too Far?
Bonus Group: London Lad, Good to hear from you. I hope that you enjoyed your recent trip to Aberdeen. Having also been employed by Shell, I consider myself fortunate that I was not one of the 'Chosen Few'. The 'Chosen Few' are the most corrupt of the corrupt and will fit in well with your ilk. In respect of the slur about my performance, BG were involved in what can only be described as a stupendous multi-billion dollar technical fraud against Petrobras based upon a corrupt workflow which was both Functionally Approved through their Assurance Team and signed-off by the relevant Discipline Functional Head. They refused to correct their workflow and that resulted in a technical fraud. They tried to make me complicit in this fraud, but I refused. That is called integrity, something which I have no doubt that you know little of. You clearly relish brushing shoulders with fraudsters and liars.
LondonLad: I can only assume from the continuous moaning from “Bonus Group” that he/she was not one of the “chosen few” from the BG group and hence the vindictiveness. Poor performance = limited or no job opportunities which applies to both Shell and ex-BG staff. As a share holder I wouldn’t want it differently.
Bonus Group: Further to Bogus Group's post of Thursday 21st November. BG Group the failed Internet Cafe, cappucino and Belgian chocolate lifestyle company had an established reputation for: constructive dismissal, lack of transparency and corrupt 'do as I say, not as I do' line management. The acceptance of the 'Chosen Few' from BG by Shell into its upper echelons can only lead to further corruption. After all what was on the BG Portal in terms of Company Policy was of course also law, or at least that is what they would have you believe. As employers they were a complete disgrace and the company a complete shambles from top to bottom. Visitors to this site can look forward to more revelations of incompetence in due course as they unfold.
Bogus Group: I was lured by the Michael Coates (Associate General Counsel at Shell) interview by Lawyer Monthly, and the question……. what is the most challenging aspect of your job and how do you overcome this? His response “There are a number of interesting challenges but I will share one internal challenge, the management of our in-house legal team”
The acquisition of BG Group and the infiltration of “the chosen few” from that company’s in-house legal team, may have bestowed a challenge he could never have imagined.
LondonLad: Well “Theo” when you say that “I know for sure the following” followed by a former director said “Black Gold we are digging up” then I think perhaps you are making this up. Most directors of an oil company (even including Shell) would not use the word “digging”! “Drilling” or “producing” yes but certainly not “digging” - exception being the muppets in the HR departments perhaps. In addition your last two sentences are irrelevant to the usual attacks on Shell and are somewhat waffle and insulting to most readers here. You clearly have a problem. I await the onslaught!!
Bogus Group: There are normally two sides to every story, but Mike Curless’ version of his termination employment under the pretext of the takeover of BG reorganisation could hold some credence. However, if there was a fair and transparent succession strategy, Sarah Franklin’s self-promotion, see previous post and article, https://www.accdocket.com/articles/tips-and-insights-a-world-class-combination.cfm must have made her a good candidate for one of the “vacant” roles within the Shell legal team. Time will tell if the relevant due diligence was done on Ms Franklin, considering her escapades with a previous company.
Theo Benschop: I know for sure the following. A former director of Royal Dutch Shell had said: it is a simple problem with the Black Gold that we are digging up and selling. All what the government has to do is fix the price of the Black Gold at a level nobody will notice. Maybe add something. But there you have the money to pay for the transition to a more sustainable energy. So actually what everybody wants in the agreements in Paris.
Also I know for sure that beloved sister Rep. Ilham Omar was perfectly right in her conclusion that a few guilty criminals did something to create the chaos of nine eleven, so not the rest of the world.
So that about 7 Billion simple descendants of the first human beings not being a monkey are supporting her for keep on being the one and only first president of all sovereign or not sovereign United Nations.
jaun carlos: Good day
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Apple is no longer the most valuable company in the world 11 Dec 2019 19:04 Metro Cafe Apple, whose CEO is Tim Cook, was replaced by Aramco, within the fist few moments the latter was on the stock market (Picture: Getty)Saudi Arabia’s oil company Aramco has overtaken Apple as the most valuable listed company in the world.
Owned by the Saudi …
Saudi oil firm breaks market records 11 Dec 2019 18:38 world.wng.org The Saudi Arabian oil company Aramco reached a value of $1.88 trillion on Wednesday, its first day of trading on the Saudi Tadawul stock exchange, surpassing Apple as the largest listed company in the world. That makes it worth more than the world’s top …
Chevron Ushers in Oil’s Era of the Sober-Major 11 Dec 2019 18:35 The Washington Post Chevron joins the ranks of Exxon Mobil Corp. — which paid $35 billion for XTO Energy Inc. less than a year before the Atlas deal and has been haunted by it ever since — and ConocoPhillips, which bought Rockies gas producer Burlington Resources Inc. way …
Chevron’s move to exit Kitimat LNG project a dash of ‘cold water’ for gas industry 11 Dec 2019 17:51 Global News The decision by Chevron Corp. to try to sell its 50 per cent stake in the Kitimat LNG project on the B.C. coast throws a symbolic dash of “long-dated cold water” on growth in the Canadian natural gas industry, an analysis says.
The California-based company …
Saudi Aramco soars 10% on market debut 11 Dec 2019 17:11 Taipei Times Saudi Arabian Oil Co (Aramco) shares yesterday began trading for the first time, gaining 10 percent in the first moments on the market and pushing its capital to US$1.88 trillion, making it the most valuable listed company in the world.
The state-owned oil …
IPO makes Aramco the world’s most valuable listed company 11 Dec 2019 16:31 Business Day Dubai/London — Saudi Aramco shares surged after the oil producer’s initial public offering (IPO), valuing the company at a record $1.88-trillion in the culmination of a four-year effort by the kingdom to list its crown jewel.
The stock jumped the daily …
Oladeinde Olawoyin: 
April 25, 2019: An analysis by oil consultancy firm, Resources for Development, says oil giants Shell/Eni’s deal for the controversial OPL 245 included “unprecedented terms” which funded an alleged bribery scheme.
Printed below is an English translation of an article published today by the Dutch Financial Times, 
Justice invaded the Shell headquarters in The Hague three years ago. Last March, Shell itself filed a report against the Australian former director Peter Robinson, who may have been guilty of corruption in Nigeria. However, that case is about another oilfield.
Nigerian Emeka Obi and Italian Gianluca Di Nardo sentenced to four years in prison as judge orders seizure of more than $120m: …this judgment will send shivers down the corporate spines of the oil industry — and will surely alarm Shell and Eni employees and shareholders who have been repeatedly told that there was nothing amiss with the OPL 245 deal.
Thursday, September 20, 2018 19.36PM / By Global Witness 
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