MILAN: A corporate bribery trial billed as the biggest in history opened Monday against the Shell and Eni oil companies as well as former and current executives, all charged in a $1.1 billion scandal to win control of one of Nigeria’s most lucrative oil blocks.
The size of the two oil companies makes the trial the biggest ever, according to anti-corruption campaigners, who also say it is unprecedented that Eni’s current CEO, Claudio Descalzi, remains in his post while he faces such serious charges.
“We have never seen a sitting CEO of an oil major go on trial for bribery,” said Barnaby Pace, a campaigner with activist group Global Witness.
The trial was later postponed until May 14 for technical reasons. The Nigerian government and four non-governmental organizations, including Global Witness, submitted requests to be considered damaged parties in the proceedings, which would allow them to participate in the prosecution.
The organizations all worked together to get documents to prosecutors in Milan, as well as in other jurisdictions, that helped bring to the Nigerian case to trial.
Descalzi is one of 13 individuals charged in the case involving the 2011 purchase of the OPL245 block. Other defendants include his predecessor, Paolo Scaroni, two former top Shell executives, a former Nigerian oil minister, and a series of middlemen and advisers. The companies themselves are also corporate defendants.
Milan prosecutors allege that $520 million of the $1.1 billion paid into an escrow account was converted into cash and distributed as bribes, while several hundred million more went to a former oil minister.
Since the indictments were filed, Milan prosecutors also have opened a separate investigation into allegations that Eni legal representatives tried to throw investigators off of the Nigeria case. Authorities searched the legal representatives’ offices in early February.
Both Anglo-Dutch Shell and Eni, which is 30-percent owned by the Italian state, have denied wrongdoing and expressed confidence that the trial would exonerate both the companies and individuals.
Both companies are also under investigation in the case in the Netherlands and face charges in Nigeria.
The Italian charges followed similar indictments last year in Nigeria that target a Shell subsidiary, not the parent company. In Nigeria, prosecutors allege bribes of more than $800 million were made to government officials and a businessman for the block’s license and that the Nigerian government only got $210 million from the deal.
Oil giants Shell, Eni on trial in big Nigerian bribery case
Oil giants Shell, Eni on trial in big Nigerian bribery case
Education spending surges 251% as students return from autumn break: SAMA
RIYADH: Education spending in Saudi Arabia surged 251.3 percent in the week ending Dec. 6, reflecting the sharp uptick in purchases as students returned from the autumn break.
According to the latest data from the Saudi Central Bank, expenditure in the sector reached SR218.73 million ($58.2 million), with the number of transactions increasing by 61 percent to 233,000.
Despite this surge, overall point-of-sale spending fell 4.3 percent to SR14.45 billion, while the number of transactions dipped 1.7 percent to 236.18 million week on week.
The week saw mixed changes between the sectors. Spending on freight transport, postal and courier services saw the second-biggest uptick at 33.3 percent to SR60.93 million, followed by medical services, which saw an 8.1 percent increase to SR505.35 million.
Expenditure on apparel and clothing saw a decrease of 16.3 percent, followed by a 2 percent reduction in spending on telecommunication.
Jewelry outlays witnessed an 8.1 percent decline to reach SR325.90 million. Data revealed decreases across many other sectors, led by hotels, which saw the largest dip at 24.5 percent to reach SR335.98 million.
Spending on car rentals in the Kingdom fell by 12.6 percent, while airlines saw a 3.7 percent increase to SR46.28 million.
Expenditure on food and beverages saw a 1.7 percent increase to SR2.35 billion, claiming the largest share of the POS. Restaurants and cafes retained the second position despite a 12.6 percent dip to SR1.66 billion.
Saudi Arabia’s key urban centers mirrored the national decline. Riyadh, which accounted for the largest share of total POS spending, saw a 3.9 percent dip to SR4.89 billion, down from SR5.08 billion the previous week.
The number of transactions in the capital settled at 74.16 million, down 1.4 percent week on week.
In Jeddah, transaction values decreased by 5.9 percent to SR1.91 billion, while Dammam reported a 0.8 percent surge to SR713.71 million.
POS data, tracked weekly by SAMA, provides an indicator of consumer spending trends and the ongoing growth of digital payments in Saudi Arabia.
The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.
The growth of digital payment technologies aligns with the Kingdom’s Vision 2030 objectives, promoting electronic transactions and contributing to the nation’s broader digital economy.
