• Wed. Nov 29th, 2023

Breaking News: Eni Halts World Bank Arbitration in Contentious Nigerian Oilfield Case


Nov 20, 2023

Recently, Eni, an Italian multinational energy company, took part in the LNG 2023 energy trade show held in Vancouver, British Columbia, Canada. The company’s logo was prominently displayed at their booth during the event. Despite ongoing disputes with the Nigerian government over the OPL 245 oilfield, Eni has made a significant move towards resolving the issue.

The company has temporarily suspended arbitration proceedings and is now engaging in discussions with the Nigerian government about converting their license from prospecting to mining. This decision was made in collaboration with the Federal Government of Nigeria and represents a positive step towards finding a resolution to the long-standing dispute.

Nigeria’s withdrawal of civil claims totaling $1.1 billion against Eni related to allegations of corruption in the OPL 245 deal has paved the way for these talks. The development provides both Eni and the Nigerian government with an opportunity to explore potential solutions and determine the necessary steps for achieving the conversion of the license.

Eni’s participation in this trade show demonstrates its commitment to investing in new technologies and innovations within the energy sector. The company’s focus on sustainability and environmental responsibility is reflected in its ongoing efforts to resolve conflicts with indigenous communities and governments around its operations worldwide.

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