HALISTER1: Shell, Eni Told to Temporarily Forfeit Nigerian Oil Field: Rtrs

Shell, Eni Told to Temporarily Forfeit Nigerian Oil Field: Rtrs

(Bloomberg) -- Nigerian court ordered temporary forfeiture while country’s anti-corruption agency investigates companies’ acquisition of an oil prospecting license, Reuters says, citing court papers released Thursday.
  • Economic & Financial Crimes Commission studying if the $1.3b purchase of license in 2011 from former Oil Minister Dan Etete involved corruption, according to papers
  • EFCC can’t estimate when investigation will end, spokesman Wilson Uwujaren said: Reuters
  • Eni spokesman said co. hasn’t received notification, Shell’s Nigerian unit declined to comment: Reuters
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
RDSA LN (Royal Dutch Shell PLC)
ENI IM (Eni SpA)

People
Dan Etete (Federal Republic of Nigeria)

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