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Italy prosecutors abandon $1.3 billion Eni Nigeria graft appeal

Italy prosecutors abandon $1.3 billion Eni Nigeria graft appeal

EMILIO PARODI ITALIAN prosecutors dropped criminal proceedings over a $1.3 billion Nigerian oilfield deal, clearing energy majors Eni and Shell, as well as managers including Eni Chief Executive Claudio Descalzi. Attorney General Celestina Gravina signalled the prosecution did not plan to pursue the case at the start of an appeal hearing into one of the oil industry's biggest ever corruption cases. "This case must finish today because it has no basis, in fact, it should have finished earlier," Gravina told the court. The Appeal Court formally took note of the decision, meaning the criminal case will be closed and the acquittal…
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Nigeria unhappy after Italian court acquits Eni and Shell in $1.3-billion corruption case

Nigeria unhappy after Italian court acquits Eni and Shell in $1.3-billion corruption case

EMILIO PARODI and STEPHEN JEWKES A Milan court acquitted energy company Eni, its chief executive and Royal Dutch Shell yesterday in the oil industry's biggest corruption case revolving around the $1.3 billion acquisition of a Nigerian oilfield a decade ago. The verdict, read out in court by judge Marco Tremolada, came more than three years after the trial first began and after 74 hearings. Tremolada said the companies and defendants had been acquitted as there was no case to answer. The Nigerian government said it was surprised and disappointed by the verdict and would consider whether to appeal once its…
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