Nigeria Seizes $1.2 Billion Oil Bloc in Shell, Eni Scandal
By MICHELLE FAUL, ASSOCIATED PRESS
JOHANNESBURG — Jan 27, 2017, 7:31 AM ET
Nigeria is seizing back one of Africa’s richest oil blocs and will prosecute petroleum giants Shell and Eni in a $1.2 billion corruption scandal that has drawn investigators from the United States, Italy, France, Switzerland and Holland, according to a Nigerian Federal High Court document.
The court on Thursday ceded control of Oil Prospecting License 245 to the government while the West African country’s Economic and Financial Crimes Commission investigates and prosecutes suspects in the “Malabu Oil scam,” according to a statement from the commission.