Shell will be prosecuted for criminal charges relating to a $1.3 billion settlement for an oil exploration licence in Nigeria.
Shell will be prosecuted for criminal charges relating to a $1.3 billion settlement for an oil exploration licence in Nigeria, and has also been summoned by prosecutors to face charges over chemical emissions and an explosion.
Shell and Italian oil firm Eni were accused of bribery in 2017 over a $1.3 billion payment that secured an exploration licence for an oil block, known as OPL 245, in 2011. It was alleged that although the funds were paid to the Nigerian government, the money actually went to Malabu Oil and Gas — a company linked to former oil minister Dan Etete.
In November, a report from campaign group Global Witness said that Nigeria would lose $6 billion in oil revenue because of the terms of the allegedly corrupt deal.Responding to the prosecution announcement, an Eni spokesperson told CNBC via email that the company had no involvement in the proceedings brought by Dutch prosecutors.
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