Sunday, September 20, 2020

WELCOME TO ADAHZION BLOG

Home Business Nigeria’s $1bn Court Case Against Shell,ENI Over Malabu Oil Deal Cannot Proceed

Nigeria’s $1bn Court Case Against Shell,ENI Over Malabu Oil Deal Cannot Proceed

British High Court on Friday ruled that the $1 billion case against multinational oil companies Shell and ENI over the Malabu Oil deal cannot proceed. 

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

The Presiding 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 British court was a duplication of the ongoing criminal trial and a parallel civil claim brought by Nigeria in Italy over the same matter.

Leave a Reply

Most Popular

OGUN: Teenager Raped And Murdered By Unknown Men

On September 16, a teenager allegedly went missing in Agbeloba, Oyilanrin in Abeokuta , the teenager identified as Faith Ifeoluwa Ojewoye, 14...

‘ We Are Saddened At This Colossal Loss Of Lives’- Buhari Mourns Victims Of Ebonyi River Tragedy

The President of Nigeria, President Buhari mourns the victims of Ebonyi river tragedy where a bus plunged into a river at Akaeze-Ukwu...

EBONYI: Bus Plunges Into River

On Friday, September 19, a bus while traveling from Akaeze-Ukwu River in Ebonyi State plunged into the river. According...

BBNAIJA: Laycon becomes The First Housemate To Hit 1M Followers While Still In The House

Recall that Laycon was one of the housemates with the lowest followers on Instagram before entering the reality show while he is...
%d bloggers like this: