Court Acquits Shell, ENI of corruption in Malabu oil case in Milan, Italy

An Italian court has acquitted Shell and Eni of corruption charges involving $1.1 billion payment in the OPL 245 deal in Nigeria.

Marco Tremolada, the judge, delivered the decision on Wednesday.

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The OPL 245, more commonly known by Nigerians as the Malabu deal of 2011, involves the $1.3 billion purchase of an oil block by Royal Dutch Shell and Eni from Malabu Oil and Gas, a company owned by Dan Etete, a former minister of petroleum.

Out of the sum, $210 million went into government coffers as “signature bonus” — the rest was paid to Malabu Oil and Gas.

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