10 Developments That Will Shape Africa’s Energy Sector in 2019 as Nigeria, Algeria, Libya, Senegal and Mozambique Go To The Polls
After a year of rebound and recovery, Africa’s old and new hydrocarbons markets have an opportunity to further entrench the continent’s position as the world’s hottest oil and…
Evidence Shows Eni, Shell Are Fully Aware of Nigerian graft- Italian Judge
An Italian judge found on Monday that oil groups Eni and Royal Dutch Shell were fully aware that their 2011 purchase of a Nigerian oilfield would result in…
OPL 245: FG Sues Shell, Eni For $1.1bn​
The federal government Thursday filed a $1.1 billion lawsuit against Royal Dutch Shell and Eni in a commercial court in London over a 2011 deal involving Oil Prospecting…
Alleged $390m OML 42 Fraud: Shell Reviews Deals Involving Ex-executive Accused of Bribery
Royal Dutch Shell has concluded that a Nigerian oilfield sale where it suspects an executive took bribes was not linked to a separate court case in which he…
FG withdraws $3.12bn from NLNG account in 3 years; Senate suspects fraud
Twenty-two withdrawals totalling $3.12 billion were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the Central Bank of Nigeria (CBN) in the last three years. This…
Senate probes $2.2 billion NNPC NLNG withdrawals
A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money has expanded with the amount under investigation doubling to over $2.2 billion, a committee said…
Malabu oil deal: Italy Supreme Court rejects Shell’s plea to reverse trial
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…
Malabu oil case: Nigerian lawyer steps down
There was a little twist in the tale when the trial of top executives from oil majors Eni (ENI.MI) and Shell (RDSa.L) over alleged corruption in Nigeria kicked off on…
No hiding place for Nigerian looters as EU gives teeth to whistleblowing
A tough era has set in for looters and crooks who use European banks and sundry investments to launder stolen money from their countries and from drugs and other illicit…
Malabu oil deal: Court papers indict UK anti-money laundering agency
Banking giants, JP Morgan, has revealed that the UK anti-money laundering unit, Serious Organised Crime Agency (SOCA), gave authorisation for the transfer of $875 million to accounts linked to Dan…