Malabu Oil Deal: Nigeria’s $1bn Case Against Shell, ENI Suffers Setback

By Simeon Godpower   5 days ago   97
Business - Top Stories

 

A High Court in London on Friday ruled that the $1 billion case against oil giants Shell and ENI over the Malabu Oil deal cannot proceed. 

The High Court Judge, Christopher Butcher, is reported to have held that the court does not have jurisdiction to hear the matter, which has a parallel proceeding in Italy, also brought by the Nigerian government over the Malabu deal.

This was what formed the basis on which Shell and ENI had moved to stop or stay proceedings in the $1 billion lawsuit in the UK, during virtual hearings of the case.

Both companies argued that the case in the UK court was a duplication of the ongoing criminal trial and a parallel civil claim brought by Nigeria in Italy over the same matter.

Nigeria had sued Shell and ENI for $1.1 billion in 2011 over the licencing of OML 245 which the nation claims the said companies made it miss as a result of bribes they paid to Malabu oil, owned by former Minister of Petroleum, Dan Etete.

[NewsNaira]



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Second to comment


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They must be a setback in this season
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Chibundu
5 days ago

Is too much 


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Divide the money for us


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Junior
5 days ago

That's complicated 


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Why why set back God have mercy


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Usoro Inemesit
5 days ago

High court


(Quote) (Likes)

Something is fishy


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Hussaina Adamu
5 days ago

They most show their character


(Quote) (Likes)
Hassan
5 days ago

Odgduigggscxhzhyssg


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Usoro Inemesit
5 days ago

They have cash


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Apakhi Elijah
5 days ago

Money all the way


(Quote) (Likes)
Love Apialulu
5 days ago

That's too much


(Quote) (Likes)
Stanley
5 days ago

Setback of the season


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Ganiy
5 days ago

Is not too much nah how


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Great Joshua
5 days ago

Hhgffin xxz silk. Cssssz. Vtioiewwa


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They must be planning to loot


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These case is taking a long time.


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Israelp
4 days ago

This is Nigeria


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