Nigerian Ex-Minister's Company Would Be Paid From $1.1 Bln Oil Deal

Nigerian Ex-Minister's Company Would Be Paid From $1.1 Bln Oil Deal

Royal Dutch Shell ( RDS.A ) admitted in a case under investigation for alleged corruption that it knew that some of the $1.1 billion paid to the Nigerian government in 2011 for an exploration license would go to a company linked to the country's former oil minister Dan Etete, Bloomberg reported, citing the company.

The company, which previously claimed it had no knowledge of the possibility that the ex-minister will be paid, changed its position after the publication of internal emails showing staff discussed the risk that funds from the transaction could ultimately be used to pay off officials, according to report.

The company reiterated on Tuesday that its joint license purchase with Italy's Eni ( E ) was "fully legal" and it paid no money to Dan Etete or his company Malabu Oil and Gas Ltd., according to the news service.

topics from
There is no comment