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Scandal-Plagued Oil Deal Could Cost Nigeria $6b: Experts

Reuters December 13, Staff members work at the booth of Royal Dutch Shell at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, Recently Viewed Your list is empty. What to Read Next. Investor's Business Daily. Market Realist. Yahoo Finance.

Scandal-Plagued Oil Deal Could Cost Nigeria $6b: Experts

Yahoo Finance Video. Associated Press.

Fox Business Videos. A spokesperson for the federal government of Nigeria was unavailable for comment when contacted by CNBC.

Nigeria files $1.1 billion London lawsuit against Shell, Eni over oil deal

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Nigeria Loses Billions In Cut Price Solid Minerals deals -- Report

All Rights Reserved. Data also provided by. The deal is being investigated by Italian prosecutors as the oil giants and their executives face bribery allegations. The terms of the transaction mean Nigeria will see no revenue from the oil production, the report claims.

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Shell and Eni, some of their former employees, and former Nigerian ministers all deny any wrongdoing. Chloe Taylor. Gary Tramontina Corbis Getty Images.


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Nigeria's back-in right Eni agreed with Shell's position, a spokesperson told CNBC via email, and claimed Global Witness' analysis may have overlooked the Nigerian government's 50 percent back-in right on the oil block. Shell and Eni still hold the exploration licence for OPL Chloe Taylor News Assistant.

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