Malabu Scandal: Shell 'writes down' OPL 245 licence

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Malabu Scandal: Shell 'writes down' OPL 245 licence
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The oil giant on Thursday listed the controversial licence for an offshore oilfield in Nigeria, which it holds alongside Eni, as parts of its writedowns.

Royal Dutch Shell has said that its second-quarter writedowns include the controversial OPL 245 licence at the centre of corruption trials in Nigeria, Italy and the UK.

The prosecutors also prayed the court to issue a fine of 900,000 euros each against Eni and Shell and to confiscate a total of $1.092 billion from all the defendants in the case, the equivalent of the bribes alleged to have been paid. From accounts controlled by Mr Etete, about half the money went to the accounts of companies jointly controlled by Abubakar Aliyu, popularly known in Nigeria as the owner of AA oil, and Mr Etete.

Although Shell and ENI initially claimed they did not know the money would end up with Mr Etete and his cronies, evidence has shown that claim to be false.Shell, Eni, Mr Etete, Mr Aliyu and several officials of the oil firms are being prosecuted in Italy for their roles in the scandal.

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