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OPL 245: Nigeria hires London-based firm to lead dispute with Eni

OPL 245: Nigeria hires London-based firm to lead dispute with Eni

Nigeria has hired the services of Franklin Wyatt, a London-based consultancy company, to provide legal advice in a dispute with Eni, an Italian oil and gas company.

Franklin Wyatt, according to information on its website, specialises in dispute consultancy by providing advise beyond legal perspectives.

There is an age-long dispute between Eni and Nigeria over oil prospecting licence (OPL) 245 deal.

The oil deal dates back to 2011, when Shell and Eni acquired the massively rich OPL 245 for over $1.3 billion — paying $1.1 billion to take over 100 percent of Malabu’s interest and $210 million to the federal government as signature bonus. read more

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Nigeria Repays Dues To Oil Majors

Nigeria Repays Dues To Oil Majors

By Tsvetana Paraskova – Oct 20, 2020, 12:30 PM CDT

The Nigerian National Petroleum Corporation (NNPC) has repaid most of the arrears it owes to international oil companies for joint venture operating expenses, recently repaying US$3 billion to Exxon and Shell, Bloomberg reported on Tuesday, citing a statement from the Nigerian state oil firm.

NNPC works in joint ventures with the major international oil producers in Nigeria, including ExxonMobil, Chevron, Shell, Total, and Eni. However, the stretched finances of the Nigerian company has led to arrears in its payments for contributions to the operating expenses of those joint ventures. read more

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U.S. and European Oil Giants Go Different Ways on Climate Change

U.S. and European Oil Giants Go Different Ways on Climate Change

While BP and other European companies invest billions in renewable energy, Exxon and Chevron are committed to fossil fuels and betting on moonshots.

By Sept. 21, 2020, 5:00 a.m. ET 

HOUSTON — As oil prices plunge and concerns about climate change grow, BP, Royal Dutch Shell and other European energy companies are selling off oil fields, planning a sharp reduction in emissions and investing billions in renewable energy.

The American oil giants Chevron and Exxon Mobil are going in a far different direction. They are doubling down on oil and natural gas and investing what amounts to pocket change in innovative climate-oriented efforts like small nuclear power plants and devices that suck carbon out of the air. read more

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Nigeria Government Lawyer Accuses Jonathan, Adoke And Diezani Of Receiving Bribes To Facilitate Malabu Deal

Nigeria Government Lawyer Accuses Jonathan, Adoke And Diezani Of Receiving Bribes To Facilitate Malabu Deal

He informed the court that Nigeria wanted to take action because of this fact, which it considers to be of very serious prejudice to the nation.

BY SAHARA REPORTERS, NEW YORK: SEP 10, 2020

The lawyer representing Nigeria at the ongoing trial of the Malabu OPL245 scandal, Lucio Lucia, has indicted ex-President Goodluck Jonathan, at the hearing of the case in Milan court on Wednesday. read more

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Malabu Oil Deal: Canadian judge dismisses suit challenging Nigeria’s grounding of Etete’s jet

Malabu Oil Deal: Canadian judge dismisses suit challenging Nigeria’s grounding of Etete’s jet

A Canadian judge on Thursday dismissed an application seeking leave to appeal the judgement that confirmed the grounding of a luxury private jet purchased by a former Nigerian oil minister, Dan Etete, with some of the alleged proceeds of the controversial $1.3 billion Malabu OPL245 oil deal.

The suit was filed before the court by Tibit Limited, an anonymously owned company incorporated in the British Virgin Islands (BVI), claiming ownership of the jet. read more

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How Nigeria’s AGF Malami Indicted Predecessor Adoke In OPL 245 Scam While Testifying In London

How Nigeria’s AGF Malami Indicted Predecessor Adoke In OPL 245 Scam While Testifying In London

Malami, while testifying, said Adoke accompanied P&ID in making Nigeria lose the case. He also accused Adoke to have received a bribe of more than $800,000.

BY SAHARA REPORTERS, NEW YORK JUL 30, 2020

Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, has made egregious corruption claims against his predecessor, Mohammed Bello Adoke, while testifying for Nigeria in the ongoing P&ID case. read more

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Shell avoids loss with strong trading, wipes $17 billion off assets

Shell avoids loss with strong trading, wipes $17 billion off assets

Ron BoussoShadia Nasralla: JULY 30, 2020

LONDON (Reuters) – Royal Dutch Shell (RDSa.L) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.

Shell had warned last month it was set to slash the value of its oil and gas assets by up to $22 billion as the coronavirus crisis hollowed out energy demand.

“Shell has delivered resilient cash flow in a remarkably challenging environment,” CEO Ben van Beurden said in a statement on Thursday. read more

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OPL 245: International transparency groups raise 25 questions

International transparency groups raise 25 questions for AGF Malami on OPL 245 contracts

Four civil society groups who have been monitoring the OPL 245 scandal have raised 25 questions for Nigeria’s justice minister, Abubakar Malami, on the handling of the assets recovered in relation to the oil block.

The groups include Corner House, Global Witness and Re:Common – all European transparency organisations – and the Human and Environmental Development Agenda (HEDA), a Nigerian anti-corruption group. read more

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OPL 245: Nigeria’s anti-corruption fight may suffer setback

Magu: International groups write Buhari, say Nigeria’s anti-corruption fight may suffer setback

Prominent international groups involved in anti-corruption efforts globally have written to President Muhammadu Buhari on what they consider the unfortunate treatment of Ibrahim Magu.

PREMIUM TIMES reported the arrest of Mr Magu, acting chairman of Nigeria’s anti-graft agency, EFCC, on Monday.

He has been detained since then as he continues to appear before a panel probing allegations of corruption and insubordination against him. The allegations were made by the Attorney-General of the Federation, Abubakar Malami. read more

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OPL 245:EFCC arraigns Malabu oil, 6 others over alleged $1bn fraud

OPL 245:EFCC arraigns Malabu oil, 6 others over alleged $1bn fraud

1 July 2020

By Ikechukwu Nnochiri ABUJA — The Economic and Financial Crimes Commission, EFCC, on Wednesday, arraigned Malabu Oil & Gas Limited, six other companies and an oil tycoon, Aliyu Abubakar before the Federal High Court on a 48-count fraud charge.

The Defendants were docked over their involvement in alleged fraudulent transfer of controversial OPL 245, considered as one of the richest oil blocks in Africa.

Other defendants in the charge marked FHC/ABJ/CR/268/2016, are A-Group Construction Company Limited, Rocky Top Resources Limited, Mega-Tech Engineering Limited, Novel Properties and Development Company Limited, and Carlin International Nigeria Limited. read more

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OPL 245: How Italian Prosecutors Hid Vital Information from Judge

OPL 245: How Italian Prosecutors Hid Vital Information from Judge

By Davidson Iriekpen:

Facts have emerged that the lead Italian prosecutor in the criminal case involving Shell and ENI over the OPL 245 affair, Dr. Fabio De Pasquale, concealed a significant material fact from the Milanese court concerning the former Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Mohammed Bello Adoke, THISDAY has learnt.

In the transcripts of the hearing with Criminal Proceeding No. 54772/13 RGNR, the prosecution witness, Ferri Alessandro, had told the court that Adoke owned the property at No. 271, Cadastral Zone A06 Maitama, Abuja, for which he had collected a mortgage of N300 million from Unity Bank in 2011. read more

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Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

Malabu Oil Block: ex-minister Orubebe’s wife quizzed over N360m deals

MAY 15, 2020

From Yusuf Alli, Abuja

Former Niger Delta Affairs Minister Godsday Orubebe’s wife Maureen, has been grilled by the Economic and Financial Crimes Commission (EFCC) over a N500 million deal linked to the $1.092 billion Malabu Oil Block scandal.

Mrs. Orubebe is also being investigated for alleged money laundering.

She was alleged to have bought three assets from the company of one of the suspects on trial over the Malabu Oil Block Settlement Agreement.

The assets were alleged to be part of those which over $523 million (out of $1.06b) was used for. read more

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SEC drops inquiry into Shell-Eni OPL 245 deal, companies say

|About: Royal Dutch Shell plc (RDS.A)|By: , SA News Editor

  • Royal Dutch Shell (RDS.A +0.9%) and Eni (E -0.8%) say the U.S. Securities and Exchange Commission has dropped its inquiry into their 2011 acquisition of the OPL 245 oil block offshore Nigeria.
  • The two companies are still on trial in Italy over allegations they bought OPL 245 knowing most of the $1.3B price would go to agents and middlemen in bribes.
  • Separately, Eni says CEO Claudio Descalzi and all senior managers will defer the collection of half of their 2020 long-term incentive plans until 2021, part of the company’s measures to reduce investment and operating costs.
  • For Descalzi, the deferral is equivalent to €735K, 15% of his total remuneration or 46% of his fixed remuneration.
  • Also, an agreement between Eni, Spanish gas firm Naturgy Energy and the Egyptian government to resolve a series of disputes over a shuttered gas plant in northern Egypt reportedly has fallen through.
  • The deal had been due to end Naturgy’s business interests in Egypt and dissolve a joint venture between Naturgy and Eni, while Eni and some Egyptian firms would have increased their holdings in the Damietta plant.        SOURCE
  • read more

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    Exxon, Shell Face Uphill Legal Battle Over Soured Nigerian Deal

    Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.

    The companies accused the Nigerian National Petroleum Corp. of taking more crude than it was entitled to under four deals that were signed in 1993 to incentivise them to develop deep offshore blocks. Those projects today account for about 30% of the country’s 2 million barrels of daily output. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    $1.06b Malabu oil block: Govt, EFCC, Interpol in row over Adoke

    December 8, 2019

    THE International Police (INTERPOL) has rejected the request of former Attorney-General and Minister of Justice Mohammed Bello Adoke for release from its custody in Abu Dhabi, United Arab Emirates (UAE).

    It said it could not grant the request because it deals with states and not individuals. Adoke’s lawyers wrote the INTERPOL, seeking his release based on what they called the vacation, on October 25, of the warrant of arrest issued against him by Justice Danlami Senchi of the Federal Capital Territory (FCT) High Court in Abuja. read more

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    Kazakhstan Seeking Additional $1B From Shell, Eni

    Bloomberg: Kazakhstan Seeking Additional $1B From Shell, Eni

    by  Bloomberg: Nariman Gizitdinov: Thursday, September 26, 2019

    Bloomberg) — Royal Dutch Shell Plc, Eni SpA and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.

    The claim from the Central Asian nation’s government comes on top of last year’s similar-sized settlement from the Karachaganak partners. Kazakhstan has a history of disputes with international investors over revenue, taxes and cost-sharing at its energy projects. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Report alleges Shell and Eni made military-style Nigerian oil deal

     

    A new report alleges that Shell and Eni benefited ‘at the expense’ of the Nigerian people in a generous military-style contact in 2011.

    Analysis from non-profit watchdog Global Witness suggests the firms signed a “Sole Risk” contract, which gave away Nigeria’s right to its share of the oil produced in the $1.1bn deal.

    Court cases are underway into allegations of bribery in the deal for the OPL 245 license, which holds one of the country’s largest oil fields. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Major new inquiry into oil spills in Nigeria’s Niger Delta launched

    A sign warns people to stay off land contaminated by oil pollution

    Lagos, Nigeria (CNN)A major new inquiry into oil companies operating in the Niger Delta has been launched by the Archbishop of York, John Sentamu. The probe will investigate “environmental and human damage” in Nigeria’s vast oil fields. read more

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    Exclusive: Nigeria hits oil majors with billions in back taxes

    FILE PHOTO: A view shows the Bonny oil terminal in the Niger delta which is operated by Royal Dutch Shell in Port Harcourt, Nigeria August 1, 2018. REUTERS/Ron Bousso/File Photo

    RON BOUSSO: FEBRUARY 21, 2019

    LONDON (Reuters) – Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

    In a letter sent to the companies earlier this year via a debt-collection arm of the government, Nigerian National Petroleum Corp (NNPC) cited what it called outstanding royalties and taxes for oil and gas production. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Oman, Shell sign interim upstream gas deal

    Dubai — Oman and supermajor Shell have signed an interim deal to develop gas acreage in block 6 in 2019, according to an emailed statement from Shell.

    The agreement covers investments in oil and gas and resources are to be used for domestic Omani projects. Petroleum Development Oman, Oman Oil Company and Total also signed the deal as partners.

    The deal will integrate Shell and Oman Oil’s upstream project with a planned gas-to-liquids plant that Shell and Oman Oil will also co-develop. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Shell, Eni, Exxon among winners in Egypt’s oil and gas exploration tender

    Shell, Eni, Exxon among winners in Egypt’s oil and gas exploration tender

    FEBRUARY 12, 2019

    CAIRO (Reuters) – Royal Dutch Shell, Eni, BP and Exxon Mobil were among winners of Egypt’s international tender for oil and gas exploration on Tuesday, with 12 concessions awarded in total.

    It marks Exxon Mobil’s entry into gas exploration in Egypt, while Shell was awarded the most concessions in the tender – three for oil and two for gas.

    Neptune Energy, Merlon, Shell, Eni and state-controlled Egyptian General Petroleum Corporation (EGPC) were awarded seven oil exploration concessions in total in which 39 wells will be drilled, Egypt’s petroleum ministry said in a statement. read more

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    Nigeria sues Shell and Eni over 2011 ‘oil bribes’

    December 14 2018, 12:01am

    Nigeria is suing Royal Dutch Shell and Eni for $1.1 billion that it claims it missed out on as a result of alleged corruption in a 2011 oil deal. The country said that it had lodged the claim in the High Court in London against the companies to recoup payments they made for an offshore oil exploration block. It alleges that the oil majors knew that much of the $1.3 billion they had paid to the Nigerian government to secure ownership of the OPL 245 licence ultimately would be paid in bribes. The allegations are already the subject of criminal proceedings in Italy and Nigeria. Both Shell and Eni deny any wrongdoing. Shell is an Anglo-Dutch group that employs about 80,000 people in more than… Want to read more? read more

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    Shell News 5 Dec 2018: Includes latest on OPL 245 graft case

    DECEMBER 5, 2018

    MILAN (Reuters) – The Russian government has asked Italy to be “reasonable” over a Russian citizen caught up in a Nigerian graft case in Milan and drop the charges against him, according to legal documents seen by Reuters.

    Ednan Tofik ogly Agaev, a former Russian ambassador in Colombia, is charged with international corruption in a case revolving around the 2011 purchase by oil majors Eni and Shell of Nigeria’s OPL 245 oilfield.

    Milan prosecutors allege bribes totalling around $1.1 billion (£862.4 million) were paid to win the licence to explore the field. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    MALABU SCANDAL: Shell, Eni officials’ trial continues as anti-corruption group head appears before court

    The trial of officials of oil giants Eni and Shell over the controversial Malabu scandal will resume Wednesday at the Milan Palace of Justice in Italy, PREMIUM TIMES has learnt.

    The Milan court’s decision came after Simon Taylor, a founding director of anti-corruption group, Global Witness, appeared before it as witness on Wednesday.

    Mr Taylor’s Global Witness, together with PREMIUM TIMES and its London partner, Finance Uncovered, have for years done extensive investigations into the long-running controversial oil deal. read more

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    Shell, Eni venture to pay $1.1B to settle Kazakhstan dispute

    By: , SA News Editor

    An energy consortium led by Royal Dutch Shell (RDS.A, RDS.B) and Eni (NYSE:E) developing the Karachaganak gas condensate field will pay $1.1B to Kazakhstan’s government to settle a profit-sharing dispute, the country’s energy ministry says.

    Kazakhstan says its production sharing agreement with the consortium also will amend terms so that it will receive a higher share of future revenues from one of the country’s biggest hydrocarbon fields. read more

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    Shell Tries to Come Clean on Its Dirty Past in Nigeria

    Italian prosecutors allege that a year after its agreement with the U.S., Shell and Eni SpA, its partner in Nigeria, paid more than $1 billion to win offshore licenses, which mostly went to bribes.

    As the company moves away from oil, it can’t shake its years operating in the pollution- and graft-ridden nation.

    A leaking, out-of-service Shell oil well head catches fire in Nigeria in 2006. PHOTOGRAPHER: ED KASHI/VII

    By Kelly Gilblom

    Perched in a helicopter sweeping over the mangrove forests of the Niger Delta, a photographer named Casey is looking for trouble. And she finds it, down among a cluster of tree trunks stained with crude. A faint disturbance in a jungle clearing turns out to be a group of men pawing at a pipeline, a tiny slice of a 1,200-mile web that feeds Royal Dutch Shell Plc’s bustling export hub on Bonny Island. Some of the men flee as the chopper closes in, but most redouble their efforts as Casey aims her camera. “I’ve seen things get better,” she said before takeoff. “Then they go back to getting worse.” read more

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    In Nigeria, Shell’s onshore roots still run deep

    An overview of the Niger delta where signs of oil spills can be seen in the water in Port Harcourt, Nigeria August 1, 2018. Picture taken August 1, 2018. REUTERS/Ron Bousso

    Ron Bousso: SEPT 23, 2018

    BODO, Nigeria (Reuters) – Royal Dutch Shell wants to reweight its footprint in Nigeria to focus on oil and gas fields far offshore, away from the theft, spills, corruption and unrest that have plagued the West African country’s onshore industry for decades.

    But for the company that pioneered Nigeria’s oil industry in the 1950s, the Niger Delta remains as important — and problematic — as ever.

    While Shell has cut onshore oil production and sold some onshore assets, it continues to invest in others. In fact, onshore production has risen in recent years as a share of Shell’s output in Nigeria, an analysis of company data over the past decade shows. read more

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    Shell to make final investment call on Nigeria oilfield in 2019: official

    Reuters Staff: JULY 31, 2018

    ABUJA (Reuters) – Royal Dutch Shell and its partners will decide next year on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield, a senior company official said on Tuesday.

    The project, one of the country’s largest with an expected production of 180,000 barrels per day, will generate profit at below $50 a barrel, Bayo Ojuli, managing director of Shell Nigeria Exploration and Production Company, told reporters. read more

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    Shell, Eni Could Face Massive Damages in Nigerian Corruption Case

    CAIN BURDEAU: July 19, 2018

    CASTELBUONO, Sicily (CN) – Nigeria could learn Friday at a court in Milan whether it can pursue damages against oil giants Shell and Eni in a sprawling international corruption case.

    The trial centers on a $1.3 billion bribery deal Royal Dutch Shell Plc. and Italy-based Eni S.p.A. executives allegedly entered into in 2011 with Nigerian officials, including then-President Goodluck Jonathan, to purchase a much-coveted oil field off the coast of Nigeria.

    In December 2017, Italian judges in Milan ordered the companies and a number of individuals, including top executives at Shell and Eni, to stand trial. The trial has been slow to unfold and remains in preliminary hearings. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Italy’s top court rejects appeal to stymie Shell, Eni corruption trial

    REUTERS STAFF: JUNE 13, 2018 / 4:03 PM

    ROME (Reuters) – Italy’s Supreme Court threw out an appeal from Shell and four former Shell managers to stymie a corruption trial that has also involved Eni’s chief executive, legal sources said on Wednesday.

    The long-running graft case on alleged corruption in Nigeria, revolves around the 2011 purchase by Eni and Shell of Nigeria’s OPL-245 offshore oilfield for about $1.3 billion. The trial began last month, with the next hearing set for June 20. read more

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    Italy’s top court tosses appeal in Shell, Eni corruption trial

    |By: , SA News Editor

    Italy’s Supreme Court rejects an appeal from Royal Dutch Shell (RDS.ARDS.B) and four former Shell managers to reverse a trial on alleged corruption in Nigeria, which also has implicated Eni (NYSE:E) CEO Claudio Descalzi.

    The appeal hoped to reverse the trial to the preliminary hearing stage due to what it said were procedural errors, but the court ruled that the appeal was inadmissible.

    Nine current and former company executives or contractors, including Descalzi, are accused by Italian prosecutors of paying bribes to secure the license to explore Nigeria’s OPL-245 offshore oilfield, which holds ~9B barrels of oil but has never entered production. read more

    royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

    Pope to address oil majors in Vatican climate conference

    FILE PHOTO: Pope Francis arrives to lead the Wednesday general audience in Saint Peter’s square at the Vatican, May 23, 2018. REUTERS/Stefano Rellandini/File Photo Philip Pullela: June 1, 2018 VATICAN CITY (Reuters) – The Vatican will host executives of the world’s top oil companies for a conference next week on climate change and the transition away from fossil fuels, a Vatican source said on Friday.

    Pope Francis, who wrote a major document on protection of the environment from global warming in 2015, is expected to address the group on the last day of the June 8-9 conference.

    The conference, organized by Notre Dame University in the United States, is expected to be attended by the heads or senior executives of companies including ExxonMobil, Eni, BP, Royal Dutch Shell and Pemex, the source said.

    The oil and gas industry has come under increasing pressure from investors and activists to play a bigger role in reducing the emissions of greenhouse gasses in order to meet goals set out in a 2015 climate agreement signed in Paris. read more

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    The Mystery of a Geneva Briefcase, Nigeria Middleman and Big Oil

    By Hugo Miller , Kelly Gilblom , and Sergio Di Pasquale: 24 May 2018, 08:40 BST Updated on 24 May 2018, 10:23 BST

    A briefcase seized from a Geneva apartment two years ago could be the key to an Italian bribery case against Royal Dutch Shell Plc and Eni SpA — if it makes it to Milan in time.

    The bag held SIM cards, Nigerian passports, a laptop and a hard drive containing more than 40,000 documents, and belonged to Emeka Obi, according to a spokesman for the Geneva Prosecutor’s Office. Swiss prosecutors found it during a raid for an unrelated investigation and are trying to get it to their Italian colleagues, who are prosecuting Obi as an alleged middle man in a $1.1 billion kickback scheme involving the energy companies vying for a Nigerian oil license.

    Obi’s lawyers persuaded a Geneva judge to put the contents of his briefcase under seal, citing his rights to privacy. Now a decision by Geneva’s Measures of Constraint Court on whether to lift that seal is expected as soon as this month.

    While officials in Milan have moved forward with charges against the oil companies without the briefcase, the evidence could strengthen the graft case. The trial, which centers around events in 2011, begins on June 20. Milanese Prosecutor Fabio De Pasquale said he has “sent more reminders” to the Swiss saying he wants the briefcase, underscoring its importance. read more

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    Shell, Eni trial on Nigeria corruption re-adjourned to June

    Reuters Staff: MAY 14, 2018

    MILAN (Reuters) – The trial of top executives from oil majors Eni (ENI.MI) and Shell (RDSa.L) over alleged corruption in Nigeria kicked off on Monday with a brief procedural hearing and a decision to re-adjourn next month.

    At the next hearing, set for June 20, the Milan court said it would assess requests from third parties, including a series of international non-profit organizations, to join the case.

    At Monday’s hearing Domenico Cartoni Schittar, a lawyer representing the Nigerian government, said he was stepping down from his role.  read more

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    Shell boss Ben Van Beurden facing a shareholder revolt over his £7.8m pay packet

    The boss of oil giant Shell is facing the threat of a revolt over his £7.8million pay packet.

    Institutional Shareholders Services, a leading investor advisory group, is recommending that Ben van Beurden’s pay is voted down at the annual general meeting later this month.

    ISS said it also wants more information about how the 60-year-old’s bonus was affected by an incident in Pakistan in 2016, when a fuel tanker operated by a Shell Pakistan contractor exploded, killing more than 200 people. read more

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    Shell, Eni oil executives on trial for graft in Nigeria

    A corruption trial against oil giants Shell and Eni and Nigeria’s ex-oil minister Dan Etete is getting started in Milan. The case deals with alleged bribes valuing millions, and the Italian trial is not the only one.

    Starting Monday, the Italian city of Milan will be the scene of a month-long trial that deals with corruption allegations in the oil industry.

    The Milan public prosecutor’s office accuses the Italian oil firm Eni and the British-Dutch oil company Shell of having paid millions of dollars in bribes in order to acquire a lucrative oil exploration and drilling license in Nigeria.

    Now 15 defendants are facing trial. Most of them employees of the two companies but Nigeria’s ex-Minister of Petroleum, Dan Etete, will also be tried. read more

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    Shell and Eni in court over alleged corruption in $1.1bn Nigerian oil deal

    Royal Dutch Shell, Italian oil giant Eni and a number of senior executives at the two firms face trial in Milan on Monday over corruption charges relating to a $1.1bn (£800m) deal for a Nigerian oil block.

    The Milan public prosecutor alleges that $520m from a 2011 deal to buy rights to a vast oil block off Nigeria’s coast was converted into cash and intended to be paid to the then Nigerian resident Goodluck Jonathan, members of the government and other Nigerian government officials.  read more

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    Trial set for two of the world’s largest oil companies

    Trial set for two of the world’s largest oil companies

    13 May 2018: Two of the world’s largest oil companies, Royal Dutch Shell and Eni of Italy, are expected to go on trial on Monday in Milan. Prosecutors are bringing corruption charges over a $1.3 billion oil deal in Nigeria. The defendants include current and former oil executives, among them Claudio Descalzi, Eni’s chief executive, who has the backing of his board despite his legal troubles. The case revolves around a payment the companies made in 2011 to the Nigerian government to settle a dispute over an offshore oil tract in the Atlantic Ocean known as OPL 245. The companies have consistently denied wrongdoing, but the case may shine a light on the sometimes murky dealings of the international oil industry. The proceedings, which are expected to last for months, may be delayed after initial procedures. Stanley Reed read more

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    Malabu Oil: Trial of Shell, Eni CEO, Other Top Executives, Begin Monday

    By Bayo Akinloye: 12 MAY 2018

    The Royal Dutch Shell and Eni, along with a number of their senior executives, will on Monday face criminal charges in Milan, Italy, for alleged aggravated international corruption for their role in a $1.1bn deal for a Malabu Oil’s OPL 245.

    This was made known in a statement yesterday by the international corruption watchdog, the Global Witness.

    It noted that no company as large as Royal Dutch Shell or senior executives of a major oil company had ever stood trial for bribery offences.  read more

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    Nigeria draft oil reforms seek to establish powerful industry regulator

    FILE PHOTO: The Nigeria National Petroleum Corporation (NNPC) headquarters are seen in Abuja, Nigeria December 5, 2017. REUTERS/Afolabi Sotunde/File Photo

    For decades, communities in the Niger Delta oil heartland have complained that spills and pollution have destroyed their land and killed off wildlife. Rights group Amnesty International accused international oil majors Royal Dutch Shell PLC and Eni SpA in March of negligence when addressing spills in Nigeria.

    ABUJA (Reuters) – Nigeria’s government plans to create a powerful energy regulator with broad oversight of the oil and gas sector, according to draft versions of sweeping reforms known collectively as the Petroleum Industry Bill (PIB).

    The draft laws, posted on the Nigerian legislature’s website on April 30, are the versions intended for the Senate, the upper house of parliament.

    The PIB aims to improve transparency, attract investors, stimulate growth and increase government revenues.

    After being debated for well over a decade, the unwieldly and contentious legislation was broken into sections to help it pass into law. read more

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    Malabu Scandal: Court to hear case to force seizure of oil block

    “This corrupt deal is spawning legal action all over the world. Global Witness wholeheartedly supports the move to revoke the rights to this oil block. Shell and Eni should not be allowed to profit from their appalling behaviour…”

    May 7, 2018

    On Tuesday, the Federal High Court of Nigeria will hear a case to compel the Nigerian government to take back one of Nigeria’s most lucrative oil blocks, which has been at the centre of a $1.1 billion multinational corruption scandal.

    The case is brought by Nigerian civil society organization, Human Environmental Development Agenda (HEDA), who are demanding that the government “revoke the Operating Production Licence (OPL) 245 on grounds that the entire Malabu transaction in relation to the OPL 245 is unconstitutional, illegal and void as it was not legally granted, same having been obtained fraudulently vide corrupt practices.” read more

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    Shell says fully committed to Iraq gas venture, plans ‘massive’ expansion

    DUBAI (Reuters) – Royal Dutch Shell (RDSa.L) is fully committed to its gas joint venture in Iraq, after the energy major exited its oil assets in the OPEC country, and plans to boost its gas output there to 1.4 billion cubic feet (bcf) a day by 2020, a senior executive said.

    Iraq’s gas development plans have long focused on Basra Gas Co (BGC), a $17 billion, 25-year project in which Iraq has 51 percent, Shell 44 percent and Japan’s Mitsubishi Corp (8058.T) 5 percent.

    The project was designed to aggregate gas from fields in the south including West Qurna 1, operated by Exxon Mobil Corp (XOM.N); Zubair, operated by Italy’s Eni (ENI.MI); and Rumaila, developed by BP (BP.L). read more

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    Malabu Scandal: UK Opposition Leader Wants Govt Probed over Payments to Etete

    The transactions were made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011. The $1.3 billion deal has spawned legal cases spanning several countries and involving Nigerian government officials and senior ENI and Shell executives, a number of whom would be facing trial in Italy on corruption charges next month.

    Ejiofor Alike with agency reports

    A Liberal Democrat and former British Business Secretary, Vince Cable, has called on the UK Home Office and National Crime Agency to explain themselves over the revelation that the country’s anti-money laundering agency allowed JP Morgan to transfer $875 million to a former Nigerian oil minister, Mr. Dan Etete. The transfers were made in relation to the Malabu oil deal, involving the controversial Oil Prospecting Lease (OPL) 245.

    JP Morgan’s London branch had claimed it repeatedly sought consent from the Serious Organised Crime Agency (Soca) to pay the fund into accounts linked to Etete. The bank said instead of being told to block the transfers, it was authorised by Soca to make the payment. read more

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    JP Morgan says it knew ex-minister linked to firm in Nigeria oilfield deal

    Shell said in April last year that it “always knew” the Nigerian government would compensate Malabu and that Etete was involved. It had previously told Reuters only that payments went to the Nigerian government.

    Julia Payne, Libby George: 7 April 2018

    LONDON (Reuters) – JP Morgan Chase has acknowledged it knew a former Nigerian oil minister convicted of money laundering would benefit when it transferred over $800 million of government funds to a company he controlled, according to a court document seen by Reuters.

    JP Morgan made the acknowledgement in its legal response to a lawsuit filed by Nigeria over transactions made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011. read more

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    Shell Suspects Ex-Executive Committed Crime in Nigeria Deal

    A bank account linked to Robinson was frozen by the Attorney-General in Switzerland after requests for legal assistance from the Dutch and Italian authorities, people familiar with the matter said last week. Several hundred million Swiss francs were in the account…

    • Oil giant filed a criminal complaint to Dutch authorities
    • Peter Robinson already facing corruption charges in Italy

    Royal Dutch Shell Plc referred a former vice president for sub-Saharan Africa Peter Robinson to the Dutch authorities, suspecting he may have committed crimes related to an asset sale in Nigeria.

    The allegations of criminal misconduct by one of its employees come at a difficult time for Shell. Europe’s largest energy company and several former executives, including Robinson, are already facing a criminal trial in Milan over an alleged bribery scheme related to the separate purchase of a Nigerian oil block called OPL 245.  read more

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    Selection of Shell related news stories 16 March 2018

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    Nigeria State Oil Company Hasn’t Explained Missing Billions

    An agency tasked with cleaning up Nigeria’s murky oil industry says even though financial accountability has improved the state oil company still hasn’t explained billions of dollars of missing revenue.

    While energy producers have cooperated and complied with requirements to publish payments, the Nigeria Extractive Industries Transparency Initiative has struggled with the state-owned Nigerian National Petroleum Corp., Waziri Adio, executive secretary of the agency known as Neiti, said in a March 7 interview in Abuja, the capital. The state oil company hasn’t explained what it did with at least $22.7 billion earned from the sale of oil licenses and in dividends from its stake in Nigeria LNG Ltd. over a 15-year period, he said. read more

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    Selection of recent news coverage of Shell/Eni OPL 245 corruption scandal

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    Trial of Shell, Eni over Nigeria to switch to new Milan court: sources

    The Italian inquiry is one of several into the acquisition of OPL-245, including cases in the Netherlands and Nigeria.

    Reuters: 2 March 2018

    MILAN (Reuters) – A trial in Italy of Royal Dutch Shell and Eni executives over alleged corruption in Nigeria, which had been due to start on March 5, will be transferred to another court in Milan, delaying the proceedings, legal sources said.

    Earlier this week, the Milan tribunal informed lawyers that the court which had been due to hear the trial had too many cases and could not guarantee that it would do so in a reasonable period of time, three sources told Reuters on Friday. read more

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