Nigeria: Malabu Scandal – After Telling Lies for Years, Shell Admits It Knew Etete Would Benefit From $1.1 Billion

11 Apr 2017   Nigeria

After repeated denials in various countries, Anglo-Dutch oil giant, Royal Dutch Shell, on Monday finally admitted it had foreknowledge that the $1.3 billion itself and ENI paid to Nigerian government for the OPL 245 oil block licence would ultimately be used to settle convicted former Minister of Petroleum, Dan Etete. “Over time, it became clear to us that Etete was involved in Malabu and that the only way to resolve the impasse through a negotiated settlement was to engage with Etete and Malabu, whether we liked it or not,” The New York Times quoted Andy Norman, a spokesperson for Shell, as saying in an email Monday. The Dutch oil giant knew the Nigerian government “would compensate Malabu to settle its claim on the block,” Mr. Norman added. The confession came a day after intercepted telephone conversation between Shell’s chief executive, Ben van Beurden, and his then chief financial officer, […]

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