Eni: What you sow today you will reap tomorrow!

Shell, Eni in fresh trouble as Nigeria begins moves to withdraw OPL 245

The Nigerian government is set to retrieve one of Africa’s richest oil blocs from oil giants, Shell and Eni, PREMIUM TIMES has learnt.

Not only will the two oil giants lose OPL 245, should President Muhammadu Buhari approve the recommendations, they will also be fined billions of dollars for illegal activities, including paying money to fraudulent public officials and private citizens in order to secure the bloc.

The retrieval of the controversial oil bloc, estimated to contain about 9 billion barrels of crude, as well as placing heavy fines on the oil giants, is contained in a far-reaching recommendation by the office of the Director of Public Prosecution, DPP, Mohammed Diri.

The recommendation was at the instance of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, who is set to advise the federal government on how to proceed on a controversial deal that is being investigated by authorities in four different countries.

In arriving at its recommendations, the DPP committee, which included lawyers from his office, called for the cancellation of the ‘settlement agreement’ that ceded the oil bloc to Shell and Eni.

Summary of OPL 245 history. Source: Global Witness

The ‘Settlement Agreement’

Made on April 29, 2011, the settlement deal is made up of three different ‘Resolution agreement’ signed by the parties involved in the OPL 245 saga.

The first, titled “BLOCK 245 MALABU RESOLUTION AGREEMENT” was signed between representatives of the federal government and those of Malabu, which was represented during the discussions by a former petroleum minister, Dan Etete.

The second agreement, titled “BLOCK 245 RESOLUTION AGREEMENT” was between the Nigerian government and officials of Shell and Eni/AGIP; while the third agreement, titled “BLOCK 245 SNUD RESOLUTION AGREEMENT”, was signed by officials of the Nigerian government and Shell.

The immediate past attorney general of the federation, Mohammed Adoke, and immediate past petroleum minister, Diezani Alison-Madueke signed all the agreements on behalf of the federal government. Both are among officials being investigated by Nigeria’s foremost anti-graft agency, the Economic and Financial Crimes Commission, for their roles in the scam.

The agreements saw the transfer of OPL 245, first from the Malabu to the Nigerian government and then from the government to Shell and Eni. The agreements also effectively cancelled all previous law suits and judgements related to the case.

It was based on these agreements that Shell and Eni paid a total of $1.3 billion into Nigerian government accounts, which as stated in earlier reports by PREMIUM TIMES, largely ended up in accounts of phoney companies and shady characters.

Cancel the agreement
The committee empanelled by the Attorney General Malami recommended that the agreement be cancelled, describing it as “null and void”, and saying it “should not be given any legal effect by the FGN (Federal Government of Nigeria) as doing so would amount to the FGN condoning and perpetuating illegality.”

One of the reasons the panel consider the agreement illegal is that the ex-convict, Mr. Etete, had no legal authority to negotiate the agreement on behalf of Malabu as he was not a shareholder of the company nor had the permission of the shareholders to do so.

Also, the oil bloc was awarded to Malabu in furtherance of Nigeria’s policy to encourage local companies and part of the conditions for the award was that “foreign participation interest in the blocks (OPL 245 and 214) shall not exceed 40%, i.e. 60/40 indigenous to foreign;” a fact Shell was aware of but chose to ignore.

The committee also sought the cancellation of the agreement based on a resolution by the last House of Representatives, which called for the cancellation and demanded that Shell be“censured or reprimanded… for its lack of transparency and full disclosure in its bid to acquire OPL 245.”

Also, although Shell and Eni claimed they only struck an agreement with the federal government and that they did not know, before the agreement, that the money they paid was going to Malabu, evidence by investigators in Italy and the Nigerian anti-graft agency, EFCC, shows that the oil firms knew the payment was eventually going to Malabu accounts controlled by Mr. Etete, a man once convicted for money laundering in France.

Apart from calling for the cancellation of the agreement, the DPP panel also recommended the full recovery of the money paid by Shell and Eni, describing it as “proceed of crime.”

PREMIUM TIMES had reported how the Federal Government paid over $800 million of the money into accounts controlled by Mr. Etete and how Justice Edis of the Southwark Crown Court in England refused to release $85 million of the remaining sum to Mr. Etete in December.

In refusing the to release the money, the judge questioned the actions of the Goodluck Jonathan presidency on the OPL 245 saga saying “I cannot simply assume that the FGN which was in power in 2011 and subsequently until 2015 rigorously defended the public interest of the people of Nigeria in all respects.”

Apart from recommending the withdrawal of the OPL 245 from Shell and Eni and calling for the retrieval of the money, the panel also asked the federal government to collaborate with all foreign agencies investigating the deal as well as prosecute all individuals and firms that violated local and international laws in the process.

In its recommendation, the panel also stated that the Federal Government can make “close to $10 billion” from the scandal.

Making money for Nigeria
To make the money, the panel recommended that Shell and Eni be fined at least $6.5 billion (five times the $1.3 billion Shell and Eni originally paid in 2011 the block).

This, the panel stated, should be done “in accordance with the relevant provisions of our laws in conformity with international best practices via the appropriate courts (at) home or abroad as the case may be.”

In other words, from the fine and the amount to be retrieved of the $1.3 billion, the government could make about $8 billion.

Also, in asking that the oil bloc be returned to Malabu’s original owners, the panel asked that the necessary licensing fees, transfer fees, signature bonus, and tax be paid by the firm; while 50 per cent of the rights to the bloc should return to Nigeria after three years based on original intent of awarding the bloc.

PREMIUM TIMES had reported how Malabu was awarded the oil block in 1998 with its shareholders being Mohammed Abacha, son of late military dictator, Sani Abacha, (50 per cent); Kweku Amafegha (the fictional character created by Mr. Etete, 30 per cent); and Wabi Hassan (wife of Hassan Adamu, former Nigerian ambassador to the U.S. 20%).

Human rights lawyer, Jiti Ogunye, had argued that the oil bloc ought to return to Nigeria and Malabu’s registration cancelled since it was based on falsehood.

“Section 190 and Section 436 (b) of the Criminal Code Act is applicable to the conduct of the promoter of Malabu, in that a false representation or declaration was made to induce the Corporate Affairs Commission to issue an incorporation certificate,” Mr. Ogunye said.

“Owing to the false representation, the Corporate Affairs Commission can approach the Federal High Court under Section 563 of CAMA to seek the withdrawal and cancellation of the Certificate of Incorporation of Malabu.”

Awaiting Malami, Buhari
The DPP report was to be sent to the Attorney General last week, a source at his office told PREMIUM TIMES, but was delayed due to Mr. Malami’s trip with President Muhammadu Buhari to the United Arab Emirates.

The report is to be sent this week to both the Solicitor General of the Federation, Taiwo Abidogun, and Mr. Malami, with the latter expected to advise President Buhari on the next steps based on the recommendations.

A source at the presidency told PREMIUM TIMES that the president was keenly following the matter and recently received a report on it from the office of the Vice President, who is coordinating the actions of the AGF, EFCC and Petroleum ministry on the matter.

Both the DPP and the Attorney General, in separate phone interviews, confirmed their offices were working on resolving the OPL 245 issue, but would not comment on the details.

“Malabu is a very sensitive issue and if there’s any resolution, I will have to get clearance before I can speak to the press on it,” the DPP, Mr. Diri, said.

Also, PREMIUM TIMES learnt that Shell was already aware of the government’s moves to cancel the agreement, and was lobbying against it.

However, the oil giant’s spokesperson, Precious Okolobo, declined comments on the matter.

Note: by Premium Time (Idris Akinbajo and Joshua Olufemi)

Research on Whistleblowers

We want to make a research on Whistleblowers of the corporate world. With this study, we can work on creating protection mechanisms to those who were motivated and encouraged by a Code of Ethics to report nonconformities with the word and spirit of this important instrument in the lives of thousands of companies around the world.

1. Have you ever suffered retaliation for making a complaint?

2. Do you know someone who has suffered retaliation for making a complaint?

3. What was the kind of retaliation? A functional demotion? Persecution of colleagues and superiors? A dismissal? 

4. Send us another informations or suggestions.

Thank you so much for your participation, stating that the data will be treated with absolutely confidentiality.

Answer the research on the following email:whistleblowers@institutebusinessethics.org.br. 

I'm making my life worth living!

For you, is the "whistleblower" a hero, a villain or a fool? Watch my video and make up your mind! (See the video on this LINK).

For me, doing the right thing... Acting ethically and with integrity... Makes our life worth living!

"I tell my story not because it is unique but because it is not"!

Observation: Get to know is this LINK my 15 years fight story agains the Italian giant oil Eni. 

This is Eni's Way...

In 2011, Shell and Eni paid US$1.1bn for one of West Africa’s largest oil fields, situated off the coast of Nigeria. The payment was equivalent to 80% of Nigeria’s proposed 2015 health budget, but the money did not benefit the country’s citizens. Instead it went to a company called Malabu Oil and Gas, which was secretly owned by the former oil minister who had granted his company rights to the oil field in 1998. Like many others, this deal for a massive state asset was conducted behind closed doors, without the knowledge of the public or investors.

Shell and Eni denied paying anyone other than the Nigerian government but there is clear evidence that they knew their payment would be diverted into private pockets. By doing business with corrupt politicians, Shell and Eni exposed their shareholders to enormous risk. The case is currently under investigation by authorities in the UK, Italy and Nigeria and there is a real chance the companies will lose their rights to the block, which is a critical plank in their strategy to replenish their reserves. 

The OPL 245 case provides a clear and compelling example of why laws mandating greater transparency over company ownership, and the payments companies make for oil, gas, and minerals, are needed. Laws requiring companies to disclose such payments already exist in draft form in the U.S., but Shell and other major oil firms including BP, Chevron and Exxon, are blocking their implementation. As OPL 245 shows, such obstructiveness goes against their own interests. 

As the case of Nigeria’s missing billion shows, there is no moral or economic argument for doing these deals in secret. The tide is turning towards transparency, and companies like Shell should champion this rather than trying to protect a redundant and outdated business model. 

See more:

1. Shell and Eni’s Misadventures in Nigeria

2. $1.1bn Malabu Scam: Leaked emails show Shell, Eni, Jonathan’s aides conspired to divert money to Etete

3. Milena Gabanelli in Report Program (Rai3)

Note: This post was replicated from the site of Global Witness

Eni pronto a devastare l'Adriatico

GIÀ SOTT'INCHIESTA PER LE ESTRAZIONI IN BASILICATA E PER UNA MEGA TANGENTE IN NIGERIA, ORA VUOLE AGGREDIRE IL MARE DEL MONTENEGRO DI FRONTE LA PUGLIA. 

L'Eni continua a devastare i territori e a mettere in campo tutte le sue forze e la sua potenza per estrarre petrolio e gas anche in zone a forte rischio che andrebbero salvaguardate sul piano ambientale. 

Questa volta il Cane a sei zampe è pronto a colpire il mare Adriatico dove ha ottenuto dal piccolo Montenegro quattro concessioni che interessano un'area di circa 1.200 chilometri quadrati di fronte le coste italiane di Monopoli e Brindisi. 

In barba ai rischi ambientali per l'ecosistema marino, alla pesca e al turismo, alla cattiva qualità del petrolio che si dovrebbe estrarre, Eni è riuscito a piegare il piccolo Stato dell'ex Jugoslavia ed ha siglato un accordo di sfruttamento trentennale dei giacimenti in mare insieme alla multinazionale russa Novatek che deterrà il 50 per cento delle concessioni. 

Il colosso petrolifero italiano pur di fare affari e di soddisfare gli appetiti dei suoi azionisti, compreso lo Stato italiano che detiene il 30 per cento delle quote, non si ferma davanti a niente e a nessuno. 

Grazie alle sue commistioni e alle coperture politiche, ieri di Prodi e Berlusconi e oggi di Renzi, non si è fermato dopo l'inchiesta Trivellopoli sullo scempio delle estrazioni petrolifere in Basilicata e non ha battuto ciglio dopo lo scandalo in Nigeria per il quale sono indagati, tra gli altri, l’amministratore delegato Claudio Descalzi e il predecessore Paolo Scaroni (in ballo c'è una maxi tangente di circa due miliardi di dollari pagata dall’Eni, secondo l’accusa, per aggiudicarsi l’acquisto di un giacimento petrolifero nigeriano). 

La sua forza economica, le sue campagne di comunicazione, le sue capacità di persuasione condizionano e travolgono tutti. Ancora di più incidono in piccole realtà come può essere il Montenegro con i suoi 670mila abitanti e una forte crisi economica e sociale. 

Il recente via libera alle prospezioni su ben 35mila chilometri quadri, ovvero lungo tutto l’Adriatico italiano, insieme ai progetti di ricerca tra Montenegro e Albania, conferma che la corsa all’oro nero in Adriatico è ripartita. 

L'Eni, infatti, vuole confermare la sua posizione in Adriatico, dove è leader dagli Anni 60, e vista la forte concorrenza mondiale accaparra tutto quello che può laddove la politica e le complicità glielo consentono. 

Toccherebbe al governo italiano dare l'esempio e produrre un impegno per fermare l’estrazione di idrocarburi nel Mediterraneo, facendosi promotore anche nei confronti degli altri Paesi, ma sappiamo che l'attuale governo Renzi, dopo il varo della legge Sblocca Italia, è d'accordo con l'Eni e non lo farà mai.

Article by Piernicola Pedicini - Portavoce M5S al Parlamento Europeo

Now, the rot of Eni will appear!

Senators linked to the "5Stelle" - movement led by Beppe Grillo - are trying to introduce in the Senate of Italy a "Parlamentary Commission of Inquiry" (PCI) to investigate the illegal and unethical practices of the most important italian company.

However, will the Italian Government, that is the largest shareholder of Eni, let the rots of the six-legged dog appear? Or will it prevent the PCI from happening? 

Let's wait!

Eni's CEOs? Make your bets!

The investigations conducted by Milan's Prosecution are advancing, and as new evidences appear complelling on the international corruption practiced by the executives of the italian energy giant, the market begins to make their bets on the future of the former and the current CEO of Eni.

For many experts and journalists, Paolo Scaroni will be arrested on the next 12th day, when he will be interrogated by Milan's Prosecuters, and Claudio Descalzi is about to renounce his position, leaving the cockpit of Eni after completing one year in his position.

If this dark, but realistic predictions are confirmed, the Board of Eni will have to justify the market, because the company's highest authority, the Corporate Governance, Eni's Guardians of Ethics, keep saying their executives' management are, immaculately, ethic. Is it? Only time will say! 

What about you? What is your bet?

The Most Coward of the Companies!

In 2015, Italy's main company completed 62 years of foundation. Howerer, Eni reacaed the old age forgetting the principles and values that guided the responsable entrepreneurship of the viosionary Enrico Mattei.

The italian giant is, constantly, imposing its (apparent) power and strenght to pay brides to many parts of the world and pollute the environment in many locations, bringing a lot of degradation, poverty and diseases, including among harmless children.

But that's not all of it! The six-legged dog is trying to scare people. Its bites are ending with "dreams", shelving "projects" and destroying "lives".

Eni spares no efforts to annihilate who tries to unmask them. Check out a few examples:

a) A televison reporter is sued in 25 million Euros for investigating illegal actions of the company;

b) An employee is fired after reporting nonconformites to Eni's Code of Ethics;

c) A business man is sued in 1 million Euros for defending their city against Eni's dirty paws. Cornered, this business man moved to Spain;

d) An environmentalist is sued en 400.000 Euros for defending another city against the six legged dog's contaminated drool;

e) Eni, after killing the whistleblower in Brazil, tries to the same in Italy using the same intimidating tactic: is sued in 30 million Euros. And relying on the silence of most of the Italian Press which is supported by their millionaire advertising budget.

Where is the Board of Eni? Why is the Board, who is the "Guardian of Ethics", not taking any action?

Who can chain and lock up in the kennel this one who is the most coward of the global companies?

And now Descalzi? For how long will Eni protect you?

Each day, the circle closes for the CEO of Eni in the case of international corruption involving payment of brides to acquire - without bidding - OPL 245 in Nigeria.

And now Descalzi? For how long will Eni protect you? Where is the Board of Eni?

Eni's VP of Communications on Twitter...

To publicize the new video of the Italian giant company, Eni's VP of Communications posted on his Twitter: What does Eni do in two minutes?

The Eni's Way Blog asks the VP of Eni, Marco Bardazzi: What does Eni do in 14 years?

Our answer? "The company destroys a promising professional carrier and also ends up with a retirement". 

New question for the six-legged dog:: Why Eni kills the whistleblower?

Learn more about this fight of  a whistleblower against Eni in this "MEMORIAL" and also in this blog .

Run, Eni... Run! There's still time to change!

The Italian giant Eni has a lot of character deviation. Check it out:

• The executives, including and especially the CEO, don't respect and don't comply with the words and spirit of Eni's Code of Ethics.

• Systematically, Eni contaminates and pollutes the environmet, and with the same habituation, pays bribes in several parts of the world, which is a fact proven by the investigations on "international corruption" in Italy, England and african countries.

• Without mercy and with cruelty, Eni kills its "whistleblowers" destroying their professional careers..

• The Board doesn't fulfill its primary role, which is, to ensure the "Corporate Governance", even less is the "Guardian of Ethics" in the company. Actually, Eni's Board, besides being a figurehead, frightened by the largest Shareholder, only exists to fulfill the legal requirements and, especially for "shareholders to see"!

The Eni's Way Blog have something to say to you: Eni, there's still time to change. Run, Eni... Run! Before it is too late, because your fall and destruction is imminent!

Are you doubting it? Time will prove! The market and the Stakeholders are relentless with "unethical companies"!

Sign the petitions. Help a whistleblower against Eni

Every year the “whistleblower” gains more importance in the context of corporate reputatuion and business continuity. The expression doesn’t bring anymore something pejorative and the complaint is no longer labeled as a “stool pigeon”. Now the whistleblower has a more noble, laudable and exemplary function: to preserve the name, image, reputation and patrimony of the companies! On the other hand, all of the Stakeholders should pay more attention on the retaliations against those who were motivated by the companies, encouraged and protected by the Code of Ethics to present some kind of concern or even complaint.

Paradoxally, it must not be allowed to the companies to kill their own whistleblower! It is not today that the companies kill the whistleblowers. The most famous cases – which including have been a cover of the renowned US magazine "Time" in the special issue "Persons of the Year" - are the WorldCom (Ms. Cynthia Cooper), FBI (Ms. Coleen Rowley) and Enron (Ms. Sherron Watkins)

Undoubtedly, many people in the four corners of the planet, when they face misconduct and disconformities according to the Code of Ethics of their companies, they keep silent for fear of suffering some type of retaliation. Many others are victims of their own denunciations, however for fear of jeopardizing their professional careers they don’t take the case any further. Instead, they get a new job and continue with their lives.

This was the case of Douglas Linares Flinto, founder and CEO of the Brazilian Business Ethics Institute and for fourteen long years, he tries, relentless and relentlessly, to rescue and restore his name, his honor, his image and his reputation, which was unjustly depreciated.

In 2001, when he was an executive, in compliance with the Code of Ethics, he made a complaint of a millionaire internal fraud scheme to the presidente of the brazilian subsidiary of the italian giant Eni. Weeks later he is fired! Then, Mr. Flinto invoked the Ethics Comitte that didn’t take any action. After, he wrote to the Board of Directors. After all, the Board is the highest authority in a company... The Board is the personification of the “Corporate Governance”... The Board is the "boss" of executives, including the CEO... The Board is responsible for the zeal of the Code of Ethics... And above all, the Board is the "Guardian of Ethics".

But no! After killing the whistleblower in Brazil, Eni tries to kill the whistleblower in Italy through a “Frivolous Lawsuit” demanding the courts of Rome a compensation of $ 40 million for slander and for libel. Not only that, company destroyed the working lives and the retirement of the Mr. Flinto.

Require from the Eni's Board of Directors comply with the words and spirit of its own Code of Ethics and so rescue and restore the name, image, reputation and honor of Mr. Flinto it is the “right and ethical thing” to do.

The struggle of Mr. Flinto against this giant Italian company with global operations can serve as inspiration and motivation for thousands of people worldwide. Besides, this case will be an example for those companies who hide in the drawers their Code of Ethics and only make use of it when they are interested. Companies like that use Ethics only as a “marketing tool”, but fortunately, the market and the Stakeholders will be ruthless and will shut the doors to companies who shows unethical business practices.

Ethics is always worth it!

Sign the petition AVAAZ.org

Sign the petition CHANGE.org

Wreck-It Grillo... What does Eni have to say?

Beppe Grillo at the Eni's Shareholders Meeting

“I am here to talk about something that nobody can deny any longer: For many years now, ENI has created a corrupting system with world-wide reach. This criminal activity is supported in three ways:

First: CORRUPTION.

It’s true corruption activity. It’s thus natural to call to mind the criminal investigations. The system of international corruption created by ENI outwith the borders of Italy, and especially in the African continent, is now in full view of everyone, even the magistrates. ENI is accused of offering bribes in these two situations:
- in Algeria to win a contract for the construction of gas pipelines (and here we’re talking of kickbacks amounting to 200 million with contracts worth 8 billion);
- in Nigeria for the ten-year concession to search for oil off the Nigerian coast (and the magistrates are talking about 215 millions in kickbacks where the concessions are valued at 1.9 billion).
A system of corruption that feeds off the connivance of most of the top managers in the company, as I’ll discuss. With a mixture of a complex system of blackmailing (the threat of losing one’s job) and the abuse of power exercised by the managers in relation to the employees, a system of collusion has been kept in existence, a system that has its roots deeply established in the company, a system that is not visible to ordinary citizens, in spite of the fact that Saipem, at least formally, is a subsidiary of a company that is still in public hands. 

Second: THE GOVERNMENT

In fact, for years, ENI has been building the foreign policy of the right-wing, left-wing and centre governments, on the system of international corruption. That is also true for this current government, but I wouldn’t know how to classify it. The Government is the majority shareholder in ENI with 30% of its shares. It owns these via the Ministry of Economics and Finance, and the Italian bank called “ Cassa Depositi e Prestiti”. However it pretends not to know what’s happening under its very nose.
The support given by the government to these criminal practices is evident if one looks at the people who are appointed to the senior management positions in ENI and in its subsidiaries. All these people have political experience and many are known to the prosecutors. The latest is the appointment of the new managing director of ENI chosen by Renzi: Claudio Descalzi. When he was Deputy Director General of ENI, this same Descalzi was involved in the long-running investigation into what happened in Kazakhstan as well as in another investigation into what happened in Nigeria, And just think that it would be enough to insert an appropriate clause into the statutes of any company having State participation and quoted on the Stock Exchange. The clause should set out a requirement for being honourable and it should specify in what conditions someone is not eligible for office or is obliged to step down if holding office. This clause should relate to anyone who is a member of the Board of Directors. This is what the M5S has asked for in parliament on a number of occasions. But the Government prefers to pretend to fight corruption and to rip the heart out of the public companies so that it can then sell them off to private companies and especially to foreign companies. It’ll get there very shortly.

Third: AFRICAN COUNTRIES
...
And Italy is losing services, products, wealth and employment! The time has come for ENI, and I came here to tell everyone, including the small shareholders, what has become of this company that was founded by Enrico Mattei.
...

In the next few days, the M5S will call for a Parliamentary commission of enquiry about ENI".


What does Eni have to say? Deceits, lies and hypocrisies! 

The speech of  Mr. Beppe Grillo is in full (only in Italian). Acess here.  

Eni: the company is in panic!

What a surprise Beppe Grillo prepared for Eni's Shareholders Meeting?

The company is in panic!

#EniAnUnethicalCompany

How a paw is an Official Partner...

The six-legged dog is an Official Partner for Sustainability Initiatives in African Countries at Expo2015. With one paw Eni sponsors the huge event and with the other five destroy Niger Delta in Africa.

This is incoherent and absoluty hypocrite! This is Eni's Way! 

#EniAnUnethicalCompany

Eni's Board is only meant for Shareholders to see!

An executive, in compliance with the Code of Ethics, makes a complaint to the presidente of the subsidiary of your company. Weeks later he is fired! Then, the whistleblower invokes the Ethics Comitte that does not take any action. After, he writes to the members of the Board.

Why the directors of the Board ceases to fulfill its main obligation? Ensure the Corporate Governance, fulfill the words and the spirit of the Code of Ethics and investigate the serious complaints of a whistleblower. Instead, they agree on suing (Frivolous Lawsuits) the whistleblower, denigrating even more their name, honor and reputation. Not only that, this company destroyed the working lives and the retirement of the whistleblower.

What if it was in your company? 

This is Eni's Way... At Eni, the Board of Directors is only meant for Shareholders to see!

Learn more about this fight of the whistleblower against the six-legged dog in this "MEMORIAL" and also in this blog .

The fight of David against the giant continues (Is 47).

Eni is specializes in "Frivolous Lawsuits"!

Do you know how Eni works? The Italian energy giant Eni  works without respecting its own Code of Ethics. The company is crafty, liar, hypocrite, sagacious and has no Ethics. 

Evidence of this is the Petition of Eni to the Second Instance of the Italian Justice (only in Italian language), or better, the technical term is "Frivolous Lawsuits" an action barrier made ​​against a whistleblower to dissuade and intimidate other reports of irregularities and illegal activity.

#EniAnUnethicalCompany

Sign the petition!

Help the reporter against Eni. Sign the petition!

‪#‎EniAnUnethicalCompany‬

Where to find Eni?

The answer is clear! Where there is pollution you will find Eni!

Eni x Petrobras: What do they have in common?

Many are the points in common between the Italian Eni and the Brazilian Petrobras.

The Blog Eni's Way will highlight some:

1) Both are the largest companies in their countries;
2) The Italian and Brazilian government are the main shareholders in each of them;
3) Most Directors of the Board are indicated by the government, ie, "politically indicated";
4) The CEOs are placed in their functions indicated by the Prime Minister, in the case of Italy, and by the President of the Republic, in the case of Brazil;
5) The companies management is far from being "independent" as it happens in the private companies. The governments have a complete interference.

However, Eni and Petrobras are different in two things, nowadays:

a) The former CEO and current CEO of Petrobras are not is not being investigated by the Public Ministry for paying bribes in other countries ("International Corruption");
a) Many executives in Petrobras received billions of dollars in bribes of 1% to 3% from contracts to provide services with the suppliers. These executives enriched illegally and also diverted millions of dollars from safes of various political parties that support the Brazilian government, including and especially the President's political party. Moreover, an Eni's subsidiary, that operates in Brazil, was mentioned by a payer of bribes to Petrobras in the statements made by Brazil's Federal Police.

Now, the Blog Eni's Way asks:

If there is an investigation into the contracts with Eni's suppliers, will the differences with Petrobras become another common point between the two companies?

What is your bet?

Who is Goliat?

Goliat FPSO concept consists of a circular facility containing a processing plant, oil storage capacity and accommodation facilities.

This is bullshit! Goliat is the giant destroyer of the environment... Time will confirm!

See more in National Geographic

Hello Eni... We're back!!

Hello Eni... We're back!

Our fight continues... Until my last breath!

Do not be misled... Eni is an unethical company!

#EniAnUnethicalCompany

Barrel to $ 200... Bullshit!

In Davos, Eni‬ says that a barrel will reach $ 200 in 4-5 years...

Bullshit! The global economy could not bear the price per barrel to $ 200.


Note: See NEWS in BBC

And now Scaroni?

The Public Prosecutor of Italy concluded the investigation into the former CEO of Eni, Paolo Scaroni and other executives of Eni - Saipem in "Algeria Case". 

The crimes are "international corruption" and "tax fraud". The prosecution of Italy will send the inquiry the Court to decide on the criminal action.

And now Scaroni? The current CEO of Eni comes next!

As a result of misconduct, the bad character of these executives, the company will be penalized according to Legislative Decree nº 231/2001 (Modell 231 included in the Code of Ethics of Eni).

Eni will crumble! #Ethicsgate #Eni

Note: See NEWS of the Italian newspaper (for now only in Italian language)

With Mattei was very different...

With Enrico Mattei, the Eni company was very different honesty, fair and ethical! #ethicsgate #eni

Note: A tribute to Francesco Rosi.

Eni is in the list... Of course!

The FCPA Blog discloses "The Corporate Investigations List" by U.S. Securities and Exchange Commission (SEC).

And the italian energy giant Eni is in the list... Of course!

For Sale

To honor commitments Eni makes money by selling assets.

See more at this link.

To pay shareholders, Eni sells assets!

Low oil prices have halted Eni’s plans to fund exploration activities and dividend payments with a major assets sale.

Italy’s Eni has already sold about $6.22 billion worth of assets, primarily from its refining operations.

The company still needs to raise $7.4 billion to fund an exploration program set to run through 2017.

Eni was looking to sell minority stakes in its Mozambique gas field along with a 43 percent stake in services player Saipem and interests in non-core assets.

Selling stakes in its Africa and Asia fields could free up cash and offset delays and spiking costs at the company’s offshore Norway and Caspian sea projects, Reuters said.

Weak oil prices have made it difficult for the company to find buyers willing to pay top dollar for the assets.

With global demand for LNG slowing potential buyers are also becoming more cautious about their investments.

Eni sold a 20 percent stake in its Mozambique gas field last year to China’s CNPC for about $4 billion and is now looking to unload a 10 to 15 percent stake.

The company has reportedly been in talks to sell the stake to the China Huadian Group for about a year.

The discussions have not yet yielded a sale agreement.

Eni said that for every $1 drop in the price of Brent it losses about $124 million.

Petro Global News

Eni will crumble! #Ethicsgate #Eni   -   The fall of Babylon (Is 47)

It's true!

It's true! Website of Eni is very very good! Access the Webranking Italy 2014 by Lundquist.

But, their business practices... Visit the news of this website!

What? Transparency?

This Transparency International report, Transparency in Corporate Reporting: Assessing the World’s Largest Companies, evaluates the transparency of corporate reporting by the world’s 124 largest publicly listed companies. The report assesses the disclosure practices of companies with respect to their anti-corruption programmes, company holdings and the disclosure of key financial information on a country-by-country basis. It follows on from a 2012 report which focused on the world’s 105 largest publicly traded companies. The report is part of a series of studies based on a similar methodology aimed at assessing the transparency practices of companies, the most recent being a 2013 report on leading emerging market companies.

Global companies have legal and ethical obligations to conduct their business honestly. This requires commitment, resources and the ongoing management of a range of risks – legal, political and reputational – including those associated with corruption. The implementation of a comprehensive range of anticorruption policies and management systems is fundamental to efforts to prevent and remediate corruption within organisations.

Eni is investigated for corruption in various countries including Italy! The former CEO, Paulo Scaroni, and current CEO, Claudio Descalzi, are investigated by "international corruption".

So, how Eni is the first in this ranking?

Internal Fraud... One more time!

Another internal fraud involving Eni employees. Tax evasion happened from Toscana but there are also concerns in Liguria, Lombardia, Sardegna e Lazio.

Access the news in full (only in Italian).

‪#‎ethicsgate‬ ‪#‎eni‬

The fall of Eni SpA

Eni's stock will plummet! Unethical actions destroy a company! #Ethicsgate #Eni

Eni will crumble! The fall of Babylon (Is 47)