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Reuters: Shell says it knew some Nigeria payments would go to criminal

Published 04/11/2017, 10:35 AM
© Reuters.  Reuters: Shell says it knew some Nigeria payments would go to criminal
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  • Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) says it knew that some of the payments it made to Nigeria for the rights to an oilfield would go through the government to a company associated with a former Nigerian oil minister and convicted money launderer.
  • A spokesperson tells Reuters that Shell knew that the former oil minister was "involved" with the company but had not confirmed that he controlled the company; Shell previously had said only that its payments from the 2011 deal went to the Nigerian government.
  • The spokesperson says Shell believes the settlement was a fully legal transaction with the Nigerian government.
  • The remarks come amid mounting pressure over the deal, in which Shell and Eni (NYSE:E) paid $1.3B for the rights to block OPL 245, which industry estimates say could hold more than 9B barrels of oil.


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