https://www.engineeringnews.co.za
Shell
Shell
shell

Dutch prosecutors target Shell over Nigeria oil deal

1st March 2019

By: Reuters

  

Font size: - +

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3-billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.

Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor's Office (DPP) that it had nearly concluded its investigation and is preparing to prosecute Shell for criminal charges directly or indirectly related to the 2011 settlement of disputes over OPL 245.

The Dutch decision piles pressure on Anglo-Dutch oil major Shell, which is already facing charges of bribery in a trial in Milan over the same deal alongside Italy's Eni.

Prosecutors in Italy allege that the two oil companies knew that around $1.1-billion used for the acquisition of OPL 245 would be used to pay politicians, businessmen and middlemen.

Both oil firms have denied any wrongdoing.

A spokeswoman for the Dutch prosecutors said: "Based on the preliminary criminal investigation, public prosecutors concluded that there are prosecutable offences".

Under the deal, Eni and Shell jointly acquired the OPL 245 field from a company owned by former Nigerian oil minister Dan Etete, who was convicted of money laundering in an unrelated case in France in 2007.

Eni Chief Executive Claudio Descalzi and four ex-Shell managers, including its former head of upstream, Malcolm Brinded, are also facing charges of international corruption in the Milan trial. All have denied any wrongdoing.

Shell shares were up 0.37 percent at 0923 GMT.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.075 0.13s - 159pq - 2rq
Subscribe Now