- Top executives at Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) last year were worried that a controversial Nigerian oil deal may have violated an agreement with the U.S. Justice Department and would prompt an investigation, according to a recorded phone call between CEO Ben van Beurden and Simon Henry, the company's CFO at the time.
- In the call, van Beurden said he was worried that Shell’s own investigators had discovered internal emails that could cast the company in a negative light and widen the investigation by drawing in U.S. authorities; the call was recorded and has now been made public.
- Shell already is under investigation in Italy, Nigeria and The Netherlands for a $1.3B deal in 2011 with Eni (E -0.3%) and the Nigerian government for the lucrative OPL 245 Atlantic Ocean oil license, believed to contain billions of barrels of crude; they suspect the companies knew the deal’s proceeds would be used to pay bribes in Nigeria.
- Shell and Eni said Friday they paid the Nigerian government for the oil block but did not believe the money would ultimately be used for bribes.
Original article