OPL 245: Shell reacts as Nigeria loses $1.1bn compensation claim

Shell

Following the rejection of Nigeria’s request for $1.1bn compensation from Shell and Eni, by an Appeal Court in Milan, Italy, Friday, Shell on Saturday said it was pleased with the dismissal of the case, adding that Shell or its former employees have no case to answer.

Shell and Eni are the two IoCs that bought the oil block from Malabu Oil & Gas Limited in 2011.

The government had alleged that there was corruption in the deal, leading to a number of criminal trials in Nigeria and Italy.

Reacting in a statement, Shell said it was pleased with the dismissal of the case, adding that Shell or its former employees have no case to answer.

Read Also: Nigeria risks paying $1.8 billion to Exxon, Shell

“We are pleased that these civil proceedings have been dismissed. This follows the Milan criminal tribunal’s finding that there was no case to answer for Shell or its former employees when they were fully acquitted in 2021, a decision that was upheld in July 2022, when criminal proceedings ended.”

Previously, the Court of Milan had ruled in March 2021 after three years of the criminal trial that the prosecutors did not establish any proof of corruption, discharging and acquitting Shell, Eni, and all the defendants.

The prosecutors subsequently filed an appeal but Celestina Gravina, the Italian attorney general, said the case “has no basis”.

Subscribe to our Newsletter

* indicates required

Intuit Mailchimp