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Oil companies say they are innocent in what could become one of the biggest cases of corruption in history.
PRETORIA – A Milan court is investigating charges against oil multinationals Eni and Shell for allegedly stealing $ 6 billion in oil revenues from Nigeria.
Oil companies say they are innocent in what could become one of the biggest cases of corruption in history.
According to Global Witness, an organization that monitors corruption, conflict and environmental damage, Eni and Shell were fully aware that their payments guaranteeing the exploration rights of Nigerian Block 245 seven years ago would remain corrupted hands.
The court examines the evidence that, in order to secure the exploration rights, the oil companies have changed the previous contractual terms, thus depriving Nigeria of billions of dollars in revenue.
Global Witness estimates that the amount stolen would cover twice the annual budget of the Nigerian giant for education and health.
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