Rome — A prosecutor in Milan asked for eight years of jail time for Eni CEO Claudio Descalzi over an allegedly corrupt $1.1bn Nigerian oil deal.
In his closing arguments on Tuesday, prosecutor Fabio de Pasquale asked the court in Milan for the sentence for Descalzi, who oversaw the company’s oil exploration and production unit at the time. The CEO denies any wrongdoing and he was reappointed to the position by the Italian government in April.
Shares of Eni were unchanged at €8.93 as of 9.12am in Milan on Wednesday, while Shell rose 0.6% to 1,259 pence in London. The allegation is that the executives involved in the 2011 deal to secure the offshore Oil Prospecting License 245 knew that the money that they deposited in an escrow account controlled by the Nigerian government would be disbursed as bribes. In 2018, two middlemen were found guilty of corruption in a separate trial related to the transaction.
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