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2014-10-13T00:00:00.000Z

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Background Information

Employment History

Oil Minister

Web References (118 Total References)


Eni paid $533 million bribe for ...

www.politicaleconomistng.com [cached]

Eni paid $533 million bribe for Nigeria oilfield deal – Report | Previous Story | Dan Etete 2 | Eni paid $533 million bribe for Nigeria oilfield deal – Report Eni paid $533 million bribe for Nigeria oilfield deal - Report | Nigeria Political Economist Magazine

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Dan Etete 2
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Malabu reportedly had close ties to former Nigeria oil minister Dan Etete.


The money was paid by Eni ...

www.newsafrica.net [cached]

The money was paid by Eni and Shell to the Nigerian government, which then paid the same amount to Malabu Oil and Gas, owned by ex-oil minister Dan Etete.

Etete had awarded the oil block to his own company when he was oil minister under corrupt Nigerian dictator SaniAbacha. In effect, he gave himself one of the most valuable oil blocks in Nigeria and, with this deal was now cashing in.
...
However,court evidence has revealed that Shell and Eni knew that the payment was going to Malabu and that Shell had negotiated directly with Etete over “iced champagne�.’


Transparency campaigners, who asked the ...

www.irishfreedom.net [cached]

Transparency campaigners, who asked the British authorities to look into the matter, assert that Shell and ENI used the Nigerian government as a go-between to obscure the fact that they were dealing with former oil minister Dan Etete, who also has a 2007 money-laundering conviction in France related to bribes he was alleged to have taken when in government.

In his capacity as oil minister, Etete awarded block OPL 245 in 1998 for a payment of just $2 million to Malabu Oil and Gas, a company in which he played a prominent role.
The critics claim that Shell and ENI, which haven't been accused of any legal wrongdoing, wanted to distance themselves from Etete given his reputation and his involvement in the original award of the oil block to Malabu.
A Shell spokesman said it had purchased the block from the government, making no payment to Malabu, and that it acted transparently and in accordance with Nigerian law.
ENI declined to comment but it told shareholders in May that the transaction was with the government, not Malabu. Etete was not contactable for comment. His lawyer did not immediately respond to a request for comment.
While Shell and ENI say they bought the block from the Nigerian government, for which they paid it $1.3 billion in 2011, Nigeria says it was helping resolve an ownership dispute over the block between Shell and Malabu and immediately transferred $1.09 billion from the sale to Malabu. The government retained the remainder.
Etete had awarded the block to Malabu during the rule of military dictator Sani Abacha, whose son Mohammed and other close allies were shareholders in the company.
...
In a British court case brought by Emeka Obi against Malabu for unpaid fees relating to his help in brokering the Shell/ENI deal, the judge in that case, Justice Elizabeth Gloster, concluded in her ruling last week that "From its incorporation and at all material times . . . Etete had a substantial beneficial interest in Malabu."
...
Etete said he was only a consultant to the company, but he represented the company in the court case and in all negotiations with the oil majors, and he told the court he was the sole signatory to its accounts.
Documents relating to Obi's London case show that both Shell and ENI met several times with Etete to negotiate the deal. An email from a Shell employee to another middleman recounts how he met Etete for face-to-face negotiations over "lots of iced champagne".
Obi said in court he approached ENI on Malabu's behalf on December 24, 2009, and introduced Etete to an ENI representative to discuss the deal.
Global Witness campaigner Tom Mayne said: "It's obvious from the meetings Shell and ENI both had with Dan Etete that they knew he was the person to speak to and then agreed that the deal be structured in such a way that it went through the government."
...
Malabu had been registered on April 24, 1998, five days before Etete awarded it block OPL 245.
...
Though Malabu's original shareholders had been Abacha's son and allies - and Etete himself, according to the British judge in Obi's court case - the company secretary Rasky Gbinigie told the court he had lost all the documents showing who owned it now.


Easily the most glaring of such ...

www.gamji.com [cached]

Easily the most glaring of such cases is that of Malabu Oil and Gas, reportedly controlled by Chief Dan Etete, a former Oil minister under General Abacha. According to several newspapers, including The Economist (June 15) of London, two years ago a consortium of Shell and Eni/Elf which had controversial stakes in the oil well, OPL 245, paid nearly $1.1 billion to Malabu, reportedly on orders of the president, as settlement over a long running dispute with Malabu on the ownership of the lucrative oil well.

The payment was made to Malabu against the background of the fact that Etete had been a fugitive from France convicted in the country for money laundering in 2007 - a conviction upheld in 2009 following his appeal. The payment was also made against the background of the fact that EFCC was yet to conclude its investigation of an allegation that Etete had fraudulently acquired the company.


Transparency campaigners, who asked the ...

www.thetimesofnigeria.com [cached]

Transparency campaigners, who asked the UK to look into the matter, assert that Shell and ENI used the Nigerian government as a go-between to obscure the fact that they were dealing with former oil minister Dan Etete, who also has a 2007 money-laundering conviction in France related to bribes he was alleged to have taken when in government.

In his capacity as oil minister, Etete awarded block OPL 245 in 1998 for a payment of just $2 million to Malabu Oil and Gas, a company in which he played a prominent role.
The critics claim that Shell and ENI, which haven't been accused of any legal wrongdoing, wanted to distance themselves from Etete given his reputation and his involvement in the original award of the oil block to Malabu.
A Shell spokesman said it had purchased the block from the government, making no payment to Malabu, and that it acted transparently and in accordance with Nigerian law.
ENI declined to comment but it told shareholders in May that the transaction was with the government, not Malabu.
Etete was not contactable for comment. His lawyer did not immediately respond to a request for comment.
While Shell and ENI say they bought the block from the Nigerian government, for which they paid it $1.3 billion in 2011, Nigeria says it was helping resolve an ownership dispute over the block between Shell and Malabu and immediately transferred $1.09 billion from the sale to Malabu. The government retained the remainder.
Etete had awarded the block to Malabu during the rule of military dictator Sani Abacha, whose son Mohammed and other close allies were shareholders in the company.
...
In a UK court case brought by Emeka Obi against Malabu for unpaid fees relating to his help in brokering the Shell/ENI deal, the judge in that case, Justice Elizabeth Gloster, concluded in her ruling last week that "From its incorporation and at all material times . . . Etete had a substantial beneficial interest in Malabu."
...
Etete said he was only a consultant to the company, but he represented the company in the court case and in all negotiations with the oil majors, and he told the court he was the sole signatory to its accounts.
Documents relating to Obi's London case show that both Shell and ENI met several times with Etete to negotiate the deal. An email from a Shell employee to another middleman recounts how he met Etete for face-to-face negotiations over "lots of iced champagne".
Obi said in court he approached ENI on Malabu's behalf on December 24th, 2009, and introduced Etete to an ENI representative to discuss the deal.
Global Witness campaigner Tom Mayne said: "It's obvious from the meetings Shell and ENI both had with Dan Etete that they knew he was the person to speak to and then agreed that the deal be structured in such a way that it went through the government."
...
Malabu had been registered on April 24th, 1998, five days before Etete awarded it block OPL 245.
...
Though Malabu's original shareholders had been Abacha's son and allies - and Etete himself, according to the British judge in Obi's court case - the company secretary Rasky Gbinigie told the court he had lost all the documents showing who owned it now.

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