1 1bn malabu bribe shell eni trial
A very interesting and complex topic!
The Malabu Oil scandal, also known as the "Malabu Oil and Gas scandal", is a corruption case involving the Nigerian government, oil company Eni, and Shell. The scandal revolves around the alleged bribery and corruption surrounding the allocation of the OPL 245 oil block in Nigeria.
Here's a brief summary:
- In 1998, the Nigerian government awarded the OPL 245 oil block to Malabu Oil and Gas, a company owned by former Nigerian Petroleum Minister, Dan Etete.
- In 2011, Eni and Shell acquired a 45% stake in the OPL 245 oil block from Malabu Oil and Gas for $1.3 billion.
- Investigations by the Italian authorities and the Nigerian government revealed that a significant portion of the payment was allegedly used to bribe Nigerian officials, including Etete and other government officials.
- The scandal was uncovered in 2013, and since then, several investigations and lawsuits have been launched.
The trial you're referring to is likely the one in Italy, where Eni and Shell are facing charges of corruption and bribery related to the Malabu Oil scandal. The trial began in 2018 and is ongoing.
In 2020, a Milan court convicted Eni's CEO, Claudio Descalzi, and Shell's former CEO, Peter Voser, of corruption and bribery. However, the verdict was later overturned on appeal.
The Nigerian government has also launched its own investigation and has filed charges against several individuals, including Etete and other government officials.
The Malabu Oil scandal has significant implications for the oil and gas industry, as it highlights the risks of corruption and bribery in the sector. It also underscores the importance of transparency and accountability in the allocation of natural resources.
I hope this summary helps! Do you have any specific questions or aspects of the scandal you'd like me to expand on?