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Nigeria Withdraws $1 Billion Claim Against Eni - Politics - Nairaland

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Nigeria Withdraws $1 Billion Claim Against Eni by Ikaeniyan0: 7:30am On Nov 17, 2023
The Federal Government has concluded plans to withdraw civil claims totalling $1.1bn against Eni SpA, ending a long battle in Italian courts over allegations of corruption in an oil field deal.

The Ministry of Justice will waive the claims before Italy’s highest court “unconditionally” and “with immediate effect” no later than Nov. 17, according to a letter seen by Bloomberg.

According to Bloomberg, the county will also “irrevocably” waive the right to any further legal action in Italy against Eni, its affiliates, and current and past officers regarding rights for the field, known as Oil Prospecting License 245, or OPL 245.

Eni confirmed receipt of the letter and said in a statement that it was ready to consider, together with the government of Nigeria, the necessary steps for conversion of the prospective license to one that will allow the development of the oil block.

According to Bloomberg, the Ministry of Justice was not immediately able to respond to a request for comment.


Operations at the country’s oil block have been halted for more than a decade by a series of trials and competing legal claims.

The area is considered to be potentially one of the richest concessions in the country, with recoverable reserves of 560 million barrels, according to Eni’s estimates.

Whether Eni and its partner Shell Plc could finally begin to develop OPL 245 may depend on the resolution of other claims, including arbitration proceedings filed by Eni at the World Bank’s International Centre for Settlement of Investment Disputes and litigation within Nigeria.

Eni, Shell, and some of their former and current managers had already been definitively acquitted last year in a criminal case in Milan, in which they were accused of knowing that much of the $1.1bn they paid to acquire OPL 245 would be distributed as bribes.

Even after that verdict, a civil suit continued, with Nigeria seeking combined compensation of $3.5bn from Eni and Shell, claiming the amount reflected the real value of the license purchased in 2011 by the two companies.
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https://punchng.com/nigeria-withdraws-1bn-claim-against-eni/?utm_source=telegram&utm_medium=social

1 Like

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Yugoslavia247(m): 7:59am On Nov 17, 2023
Who else was expecting a Yoruba name

14 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by kelvincoke(m): 7:59am On Nov 17, 2023
God bless Nigeria

3 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Dolajo: 7:59am On Nov 17, 2023
We lost this one

1 Like

Re: Nigeria Withdraws $1 Billion Claim Against Eni by ValarDoharis: 7:59am On Nov 17, 2023
I don't know what to say!
Re: Nigeria Withdraws $1 Billion Claim Against Eni by xpiranza88: 8:00am On Nov 17, 2023
Ok
Re: Nigeria Withdraws $1 Billion Claim Against Eni by akpaulite(m): 8:00am On Nov 17, 2023
God bless you Nigeria

7 Likes 2 Shares

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Padipadi(m): 8:01am On Nov 17, 2023
$1billion for what n what.
Re: Nigeria Withdraws $1 Billion Claim Against Eni by FreeStuffsNG: 8:02am On Nov 17, 2023
Our chance of getting the civil claims against ENI and Shell at the Italian court looks slim after the court declared that ENI and Shell are not guilty.

The person who caused the main problem is a Bayelsan, Chief Dan Etete,former Petroleum Resources Minister, who with Late Gen Abacha, awarded themselves those two juicy oil licenses and instead of paying $20m still shortchanged Nigeria by paying $2m. It was a scam on Nigeria similar to the scale of P&ID.

After a decade of the litigation and the assets left idle, it's a good idea for us to get ENI and Shell to develop the asset and start producing while EFCC continues with the prosecution and seizure of assets belonging to everyone who collected the $1.3 billion ENI and Shell paid Nigeria , from which GEJ approved over $800m be paid to Dan Etete, his fellow Ijaw, despite knowing that Etete has been previously convicted on same matter in France in 2007..

Pa Obasanjo really dealt with all of the unpatriotic elements involved in the scam and ensured that life is miserable for them until that role played by GEJ almost ruined his efforts and everything.

Asiwaju Tinubu needs to be wise with ENI and Shell to ensure we don't lose out in Italy and here. ENI and Shell have suffered enough yet it's actually the unpatriotic Nigerians who caused us this problem.ENI may now withdraw its own case too. Check my signature for free stuffs!

26 Likes 3 Shares

Re: Nigeria Withdraws $1 Billion Claim Against Eni by BullwhipFlats: 8:02am On Nov 17, 2023
Maybe because they've seen there's nothing to gain
Re: Nigeria Withdraws $1 Billion Claim Against Eni by theophorus(m): 8:02am On Nov 17, 2023
Hmmm!
Some former leaders just Over-hate this country.
Even countrymen for those Federal parastatals self join dey sell the Country bit by bit.
But make dem no worry, Everyday for Thief but one the Theif go collect.

2 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by 4tomandchi: 8:02am On Nov 17, 2023
When people get to power through corrupt means expect corruption to be on the rise.

When the dollar was 700 under Buhari the narrative then was that the First Lady had hijacked the dollar from CBN and was reselling at black market rate. So what is going on with the Tinubu presidency who has hijacked the dollar now that is almost double the price he meet it.

Is this how Lagos was built?

9 Likes 3 Shares

Re: Nigeria Withdraws $1 Billion Claim Against Eni by ShenTeh(m): 8:03am On Nov 17, 2023
There must have been some sort of back-hand dealings no doubt.

How does a sovereign country unconditionally withdraw a over N1.5 trn legal suit against a company, and still unconditionally agree to never have a reason to seek legal redress against that company or its representatives or staff for past and present crimes? How dumb can a country be?

Abi dem don begin blackmail Baba ni?

Modified.

12 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Matooosa222: 8:04am On Nov 17, 2023
All this money that we masses wont benefit from it rather inflations keep occuring every blessed day, i read comment for a living
Re: Nigeria Withdraws $1 Billion Claim Against Eni by phemmie06(m): 8:04am On Nov 17, 2023
Is it the Eni that Oando acquire or not?
Re: Nigeria Withdraws $1 Billion Claim Against Eni by adesegun121(m): 8:04am On Nov 17, 2023
Ok
Re: Nigeria Withdraws $1 Billion Claim Against Eni by atobs4real(m): 8:06am On Nov 17, 2023
When you see the structure, you won't deceive your self

1 Like

Re: Nigeria Withdraws $1 Billion Claim Against Eni by CTee1: 8:06am On Nov 17, 2023
Ok
Re: Nigeria Withdraws $1 Billion Claim Against Eni by Spidermon: 8:07am On Nov 17, 2023
ShenTeh:
There must have been some sort of back-hand dealings no doubt.

How does a sovereign country unconditionally withdraw a over N1.5 trn legal suit against a company, and still unconditionally agree to never have a reason to seek legal redress against that company or its representatives or staff for past, present and future crimes? How dumb can a country be?

Abi dem don begin blackmail Baba ni?
Re: Nigeria Withdraws $1 Billion Claim Against Eni by Chidex50(m): 8:07am On Nov 17, 2023
kelvincoke:
God bless Nigeria
wetin happen to the Numerous blessings?

1 Like

Re: Nigeria Withdraws $1 Billion Claim Against Eni by COMPAQ(m): 8:08am On Nov 17, 2023
ShenTeh:
There must have been some sort of back hand dealings dealings no doubt.

How does a sovereign country unconditionally withdraw a N1.5 trn legal suit against a company, and still unconditionally agree to never have a reason to seek legal redress against that company or its representatives or staff for past and present crimes? How dumb can a country be.

Abi dem don begin blackmail Baba ni?

The fact that we have a suit of $1bln doesn't mean we had a good chance of winning it. Besides the court case is holding up investment and development in the field and Nigeria needs the FDI and future production badly. So the government has picked its battles more wisely than the idiot government we had before.

8 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Aquila99: 8:08am On Nov 17, 2023
ShenTeh:
There must have been some sort of back hand dealings dealings no doubt.

How does a sovereign country unconditionally withdraw a N1.5 trn legal suit against a company, and still unconditionally agree to never have a reason to seek legal redress against that company or its representatives or staff for past and present crimes? How dumb can a country be.

Abi dem don begin blackmail Baba ni?

Because we are losing, no one will be gaining in war. Didn't u see how many millions of oil barrels from dat OPL alone. Case weh dy court for over a decade now. Once d start production back, it will benefit everyone.

2 Likes

Re: Nigeria Withdraws $1 Billion Claim Against Eni by BOSSkesh(m): 8:09am On Nov 17, 2023
Why
1 billion is big money oh

1 Like

Re: Nigeria Withdraws $1 Billion Claim Against Eni by sonofElElyon: 8:10am On Nov 17, 2023
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Re: Nigeria Withdraws $1 Billion Claim Against Eni by Lifestone(m): 8:13am On Nov 17, 2023
ShenTeh:
There must have been some sort of back-hand dealings no doubt.

How does a sovereign country unconditionally withdraw a over N1.5 trn legal suit against a company, and still unconditionally agree to never have a reason to seek legal redress against that company or its representatives or staff for past and present crimes? How dumb can a country be?

Abi dem don begin blackmail Baba ni?

Modified.
The logic is simple, an Italian court have ruled in favour of Eni
OPL 245 one of the most lucrative OPL in Nigeria has remained unproductive causing further losses. Cut your loss and bring this into production

7 Likes 1 Share

Re: Nigeria Withdraws $1 Billion Claim Against Eni by Ikaeniyan0: 8:17am On Nov 17, 2023
phemmie06:
Is it the Eni that Oando acquire or not?
Where will Oando see the money to buy Eni?

1 Like

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