OPL 245 Scandal: Court acquits Eni, Shell of corruption charges

An Italian court has acquitted Shell and Eni of corruption charges involving $1.1 billion payment in a Nigerian oil deal.

Marco Tremolada, the judge, delivered the decision at the court sitting, on Tuesday.

The OPL 245, also known as the Malabu deal of 2011, involves the $1.3 billion purchase of an oil block by Royal Dutch Shell and Eni from Malabu Oil and Gas, a company Dan Etete, former minister of petroleum, had major shares in.

Out of the sum, $210 million went into government coffers as “signature bonus” — the rest was paid to Malabu Oil and Gas.