MALABU: Italian prosecutors drop $1.3 billion appeal against Eni, Shell

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With the Appeal Court formally taking note of the decision Tuesday, the criminal case will be closed and the acquittal of all defendants will be concluded.

“This case must finish today because it has no basis, in fact it should have finished earlier,” Mr Gravina was quoted to have told the court Tuesday.

Last year, the Tribunal Prosecutor’s Office and the Nigerian government had sought to appeal a ruling which acquitted the two companies and defendants after a three-year trial. Eni in its reaction said it was very satisfied that the case had been concluded, adding that it was “unmotivated and disconcerting.”The OPL deal details how Shell and Italy’s Eni in 2011 paid the Nigerian government of then president Goodluck Jonathan a combined $1.3 billion for an oil block. Of that amount, $875 million was paid to Malabu Oil & Gas, a company controlled by former oil minister Dan Etete.

 

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