Nigeria could seek as much as $3.5 billion in damages from Royal Dutch Shell and Eni over an allegedly corrupt deal for one of Africa’s biggest untapped oilfields.
The Federal Republic of Nigeria has filed a claim in the High Court in London against the two oil companies over the deal in which they acquired the OPL 245 oil licence for $1.3 billion. It alleges that the deal was corrupt and resulted in Nigeria receiving “no or negligible value” for rights to the “extremely valuable” offshore licence, which it estimates was in fact worth “at least $3.5 billion”.
Of the $1.3 billion that was paid, Nigeria says it ended up receiving about $200 million, with up to $1.1 billion being swiftly transferred on to other…
Followers
Corrupt Deal: Shell and Eni Oil firms face $3.5bn claim for damages in Nigeria
Latest News Plus May 05, 2019 No comments
Subscribe to:
Post Comments (Atom)
Poster Speaks
Poster Speaks/box
No comments