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CEO of oil major charged with corruption

The CEO of the world's sixth-largest oil company denies wrongdoing in the allegations related to a controversial billion-dollar transaction. "What the seller does with the money is not your responsibility," he says.

Photo: Eni

Chief executive of Italian oil company Eni, Claudio Descalzi, has been charged with international corruption. The prosecutor has filed charges to take the CEO and 10 others, including the previous CEO, to court in Milan in relation to the protracted case regarding Eni and Shell's alleged bribery in Nigeria.

The charges concern the takeover by Eni and Shell of the exploration rights for the oil area OPL 245 off of Nigeria. This area is estimated to contain upwards of nine billion barrels of oil and is considered one of the most valuable prospects in the west African nation.

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