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Eni CEO placed under investigation for 2011 Nigerian purchase

Sep. 11, 2014 10:22 AM ETEni S.p.A. (E) StockEBy: Carl Surran, SA News Editor
  • Eni (E -2.3%) says Milan prosecutors have placed Claudio Descalzi, its CEO since May and longtime company veteran, under investigation as part of a preliminary probe related to the acquisition of a Nigerian offshore oil block.
  • Descalzi is suspected by prosecutors of playing a role in the corruption of Nigerian politicians and bureaucrats in the oil license deal which closed in 2011 when he was Eni’s head of exploration and production the deal already is under scrutiny in Nigeria's parliament.
  • Eni has said it did not act illegally in the matter.

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