•Eni, Shell deny wrongdoing
Nigeria will lose an estimated $6billion following the controversial 2011 deep water block Oil Prospecting Licence (OPL) 245 deal with Shell and Italian energy giant Eni, industry experts warned yesterday.
An analysis presented in Lagos by Resources for Development Consulting found that in the contract, commonly referred to as the Malabu deal, Nigeria is cheated of billions of dollars in revenue from two out of three regular sources.
The firm noted that the deal excluded Shell and Eni from paying royalty and Profit Oil on the OPL 245 which were part of the…
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