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Home Business News Around the World
Italy orders investigation of Shell, Eni prosecutors in Malabu corruption case

Italy orders investigation of Shell, Eni prosecutors in Malabu corruption case

Chike OlisahbyChike Olisah
2 years ago
in Around the World, Energy, Spotlight
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The Italian Ministry of Justice has ordered an investigation of the conduct of two prosecutors in a corruption case involving oil and gas giants, Eni (ENI.MI) and Shell (RDSa.L) in Nigeria.

This might not be unconnected with the untidy and questionable manner in which the case was handled by the prosecutors.

The Milan prosecutors, Fabio De Pasquale and Sergio Spadaro were earlier this month, placed under official investigation by magistrates for allegedly not filing documents that would have supported Eni’s position.

READ: UK court dismisses $1.1billion Nigerian corruption lawsuit against Shell, Eni

This was disclosed in a statement issued by the Italian Ministry of Justice, on Tuesday, in which it said that it had decided to move in the wake of the judicial investigation and criticism of the two prosecutors by the trial judges.

The Justice Ministry in its statement said, “The ministry has asked the inspectorate to carry out preliminary investigations to correctly reconstruct the facts by acquiring the necessary documents.’’

READ: Malabu Scandal: Shell writes down OPL 245 License

Backstory

It can be recalle0d that in March 2021, an Italian court in Milan acquitted oil giants Eni and Royal Dutch Shell along with a series of past and present managers including Eni Chief Executive Claudio Descalzi of corruption charges, involving $1.1 billion payment in the oil industry’s biggest corruption scandal.

While pointing out that the oil firms and defendants had been acquitted as there was no case to answer, the judge equally said that court judgements in Italy are subject to appeal and only become enforceable once they are final.

READ: Dutch court orders Shell Nigeria to pay compensation for oil spill

Earlier, a United Kingdom (UK) court, on May 22, 2020, dismissed the same lawsuit instituted by the Federal Government against Royal Dutch Shell and Eni, with respect to a dispute over the OPL 245 oil field as the UK judge in charge of the case said that the UK court did not have jurisdiction to try the lawsuit.

The long-running case revolved around the $1.3 billion purchase by Eni and Shell of the OPL 245 offshore oilfield in Nigeria in 2011 from Malabu Oil and Gas, a company owned by the former Nigerian oil minister, Dan Etete.


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Tags: Dan EteteEniFabio De PasqualeSergio SpadaroShell
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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