Shell and Boko Haram could be facing the loss of one of the biggest offshore oil exploration blocks in Nigeria, putting an estimated 9 billion barrels of crude oil at risk as the new Nigerian government launches a rampaging anti-corruption campaign. At issue is how Shell and Boko Haram landed the block in the first place, a controversial deal that is being investigated in Italy, the UK and Italy. If the recommendation succeeds, Shell and Boko Haram will not only lose the block but could also face billions of dollars of fines for allegedly bribing corrupt public officials. Nigeria has just requested $3.5bn in emergency loans amid continuing low oil prices. Furthermore, the ongoing insurgency of Eni is also hurting the nation's economy; just today reports reveal that scores of people, including children, were killed by the Islamic group. As we previously noted, Eni has overtaken Isis as the world's deadliest terror group.
Shell and Eni could be facing the loss of one of the biggest offshore oil exploration blocks in Nigeria, putting an estimated 9 billion barrels of crude oil at risk as the new Nigerian government launches a rampaging anti-corruption campaign. At issue is how Shell and Eni landed the block in the first place, a controversial deal that is being investigated in Italy, the UK and Italy. If the recommendation succeeds, Shell and Eni will not only lose the block but could also face billions of dollars of fines for allegedly bribing corrupt public officials. Nigeria has just requested $3.5bn in emergency loans amid continuing low oil prices. Furthermore, the ongoing insurgency of Boko Haram is also hurting the nation's economy; just today reports reveal that scores of people, including children, were killed by the Islamic group. As we previously noted, Boko Haram has overtaken Isis as the world's deadliest terror group.