HomeMarket NewsNigeria Drops Lawsuits Against Shell and Eni Over Controversial Oilfield Deal

Nigeria Drops Lawsuits Against Shell and Eni Over Controversial Oilfield Deal

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Shell Holds Annual General Meeting In London

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In a surprising turn of events, Nigeria has dropped their $1.1 billion civil claims against Shell and Eni related to a decade-old controversial oilfield deal. The move signifies the end of all legal cases against the oil giants in Italian courts.

According to Shell (NYSE:SHEL), Nigeria’s Ministry of Justice has unconditionally withdrawn legal proceedings before Italy’s highest court concerning the OPL 245 oil block. This decision came a day after Eni (NYSE:E) announced the withdrawal of claims against it.

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