REUTERS

Court rejects Nigeria’s compensation request against Eni, Shell

By Alfredo Faieta and Francesca Landini: November 11, 2022

MILAN, Nov 11 (Reuters) – An appeals court in Milan on Friday rejected Nigeria’s $1.092 billion compensation request against Italian energy group Eni SpA (ENI.MI) and Shell Plc (SHEL.L) in civil proceedings relating to a $1.3 billion oilfield deal.

The decision was read out in court.

In July prosecutors had dropped related criminal proceedings, clearing Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi, in one of the oil industry’s biggest alleged corruption cases. read more

SHELL COMMENTS ON THE VERDICT FROM THE MILAN TRIBUNAL OVER OPL-245

Mar 17, 2021

Ben van Beurden, Chief Executive of Royal Dutch Shell plc (“RDS” or the “Company”), today made the following statement after the Milan Tribunal acquitted the company of charges related to Oil Prospecting Licence (OPL) 245 in Nigeria:

“We welcome today’s decision by the Milan Tribunal. We have always maintained that the 2011 settlement was legal, designed to resolve a decade-long legal dispute and unlock development of the OPL 245 block. At the same time, this has been a difficult learning experience for us. Shell is a company that operates with integrity and we work hard every day to ensure our actions not only follow the letter and spirit of the law, but also live up to society’s wider expectations of us.” read more

Shell comments on dismissal of Dutch investigation into OPL 245

Jul 21, 2022

Shell plc (“Shell”) today made the following statement after the Dutch Public Prosecutor’s office announced it had dismissed its investigation into bribery allegations related to Oil Prospecting Licence (OPL) 245 in Nigeria.

“We welcome today’s decision, which marks an end to the criminal investigation in The Netherlands. It follows the Milan Public Prosecutor’s appeal withdrawal earlier this week, which ended all criminal proceedings and confirmed the Milan Tribunal’s decision to acquit Shell and four of our former employees in March 2021. read more

REUTERS

JPMorgan wins London oil trial in which Nigeria sought $1.7 bln

By Sinead Cruise and Estelle Shirbon: June 14, 2022

LONDON, June 14 (Reuters) – JPMorgan Chase (JPM.N) has won a London High Court battle against Nigeria, which was seeking $1.7 billion in damages over the U.S. bank’s role in a disputed 2011 oilfield deal.

JPMorgan said the judgment reflected its commitment to acting with high professional standards everywhere it operates, while Nigeria said it was disappointed and would review the judgment carefully before considering its next steps. read more

The Telegraph

JP Morgan accused of negligence over corrupt $1.3bn Nigerian oil deal

By Mark Hollingsworth: 20 February 2022 

The case revolves around $876m of missing money from an oil field sale in 2011

JP Morgan negligently allowed corrupt Nigerian officials to siphon off more than three quarters of a $1.3bn oil investment to a former oil minister’s company and assorted middlemen, the High Court will hear this week.

The world’s largest bank is being sued by the Nigerian state for allegedly allowing corrupt former state officials to extract $875m between 2011 and 2013 from a government account opened with JP Morgan in London. read more

Allegations and Litigation Relating to Spymasters in Shell’s Corporate Security Department

By John Donovan

See below a self-explanatory email I sent yesterday to named senior executives at Shell.

It mentions the current momentous events at Royal Dutch Shell, although that is not the subject of the email. In that connection, I have not spotted any reference in current news coverage to the Dutch police raid at Shell’s current HQ in The Hague.

That astonishing development may have fuelled a growing feeling that the Dutch government has turned anti-Shell by allowing Nigerian and climate change litigation against Shell to proceed in the Dutch courts and tightening up Dutch tax regulations affecting Shell. read more

Royal Dutch Shell: How Nigeria’s Ex-Attorney General Bayo Ojo Received $10 Million From Malabu Largesse

10/05/2021 | 03:07am EDT

Christopher Bayo Ojo, who between June 2005 and May 2007 was Nigeria’s Attorney General and Minister of Justice, received $10.026 million the infamous Malabu OPL 245 share-outs, a payment investigators said was a “bribe” for his earlier controversial decision to reassign the lucrative oil block to Dan Etete, Nigeria’s former petroleum minister. read more

By John Donovan

Last Sunday I was described in the Channel 4 TV documentary Joe Lycett vs The Oil Giant as Shell’s No1 Enemy and as Shell’s nightmare. (Transcript of the relevant segment)

Within days I seem to have lost both titles to a billionaire upstart, Daniel Loeb, who seems intent on breaking up Shell.

From my unique perspective on Shell senior management over recent decades, he is right to question competence and direction.

How has Shell ended up with a foe (me) operating a website using the top-level domain name royaldutchshellplc.com and as a consequence dealing on Shell’s behalf with job applications and all manner of other email correspondence meant for Shell? This is the humiliating situation Shell has been in since 2005. Evidently, no one at Shell has had the gumption to do anything to put an end to such a farce. read more

Royal Dutch Shell: How Nigeria’s Ex-Attorney General Bayo Ojo Received $10 Million From Malabu Largesse

Extracts from an article published by Premium Times on 5 October 2021

Christopher Bayo Ojo, who between June 2005 and May 2007 was Nigeria’s Attorney General and Minister of Justice, received $10.026 million from the infamous Malabu OPL 245 share-outs, a payment investigators said was a “bribe” for his earlier controversial decision to reassign the lucrative oil block to Dan Etete, Nigeria’s former petroleum minister. read more

REVEALED: How Embattled Ex-Attorney General, Adoke Sought To Transfer Over $1billion From Nigerian Government Account After Leaving Office

BY SAHARA REPORTERS,

NEW YORK SEP 28, 2021

An internal email exchange between anti-money laundering officers at JP Morgan Chase (JPMC) bank records that a former Nigerian Attorney-General of the Federation, Mohammed Adoke sought to transfer over $1 billion from government account, after he had left office.

 The information showed that “Mr Adoke”, described in the email as “the former Nigerian Minister of Justice and Attorney General”, sought to transfer $1,092,015,000 from a Federal Government of Nigeria (FGN) account, held with the London branch of JPMC, even though he was not a Minister at the time, an Italian newspaper, IRPIMEDIA reports. read more

REUTERS

Acquittal of Eni and Shell in Nigeria case faces legal challenge

MILAN, July 29 (Reuters) – Italian prosecutors and the Nigerian government have appealed the acquittal of Eni (ENI.MI) and Shell (RDSa.L), as well as a series of past and present managers, in a Nigerian corruption case, according to a document seen by Reuters.

REUTERS

Italian court acquits two in Nigeria oil graft case

BY REUTERS STAFF: JUNE 24, 2021

MILAN (Reuters) – An Italian appeals court on Thursday overturned jail sentences handed down to Nigerian Emeka Obi and Italian Gianluca Di Nardo for their part in a graft case involving Eni and Shell in Nigeria.

In a decision taken behind closed doors but read out to reporters afterwards, the three judges quashed the convictions and said there was no case to answer.

The prosecution itself had asked for the sentences to be overturned after a court in March acquitted the two energy groups in a long-running case revolving around the acquisition of a Nigerian oilfield for about $1.3 billion. read more

REUTERS

Italy orders inquiry into Eni-Shell Nigeria corruption prosecutors

June 15, 20212:26 PM BST

MILAN, June 15 (Reuters) – Italy’s justice ministry ordered an inquiry on Tuesday into the conduct of two prosecutors in a corruption case involving energy groups Eni (ENI.MI) and Shell (RDSa.L) in Nigeria.

Milan’s top prosecutor said last week that he backed the two men, after a trial lasting more than three years.

Reporting by Emilio Parodi; Writing by Stephen Jewkes; Editing by Crispian Balmer and Alexander Smith read more

PREMIUM Times

Nigeria: Malabu Scandal – OPL 245 Licence Expires

By Oladeinde Olawoyin: 26 MAY 2021

The expiry of the licence returns control of the oil field to the Nigerian government.

The licence for the controversial Nigerian offshore OPL 245 oil block has expired, PREMIUM TIMES has learnt.

According to civil society campaigners Global Witness, Eni confirmed the development in response to questions at their 2021 annual general meeting.

The organisation added on Wednesday that the expiry of the licence returns control of the oil field to the Nigerian government. read more

Judge calls for more JP Morgan disclosure in OPL 245 case

JP Morgan must provide more documents to Nigeria, as the two sides duke it out over payments in connection to the OPL 245 scandal.

Justice Calver handed down a judgement this morning, following a hearing that took place on May 5.

Nigeria welcomed the ruling. A representative said JP Morgan had been required “to disclose documents from 5 further senior executives and compliance officers at the bank who were involved in signing off on US$875 million of fraudulent payments in connection with the OPL 245 scandal and in US compliance investigations carried out shortly before the bank decided to pay out anyway”.

The bank should give a “clear and unambiguous account of exactly how the decisions to make these huge payments were made when it was on notice that to pay out risked its customer, Nigeria, being defrauded,” the representative continued.

“Justice will be sought for the people of Nigeria, who will be pleased the trial will begin early next year.”

Calver’s ruling set out a number of searches JP Morgan must carry out. Among those named to comply with the order are Pamela Johnson, Lester Pataki and John Gibbons, high-ranking executives at the bank. read more

JPMorgan Memo Warned $875 Million Nigeria Payment Was Graft Risk

By Jonathan Browning: 7 May 2021, 08:00 BST Updated on 7 May 2021, 08:29 BST

European and Nigerian courts have been raking over the purchase by Eni SpA and Royal Dutch Shell Plc of the oil license in Africa’s largest crude producer a decade ago. While the energy giants were recently acquitted of corruption charges in Milan in a decision prosecutors could appeal, Nigeria’s government is continuing to seek compensation from JPMorgan. read more