A Federal High Court in Abuja has countermanded its early decision by returning OPL 245 to Shell and ENI.
The court on had on January 26, issued an order, based on a motion by the Economic and Financial Crimes Commission, retrieving the ownership of the oil block from the two multinational companies.
Following the court decision, Shell and ENI approached the court with an an application, challenging the ruling. They contended that the rights of parties to fair hearing were not followed before the ruling was reached.
They prayed the court to reverse the order, and allow the parties address the issue, legally. Malabu, the company which was given the oil block in controversial circumstance in 1998 had also applied to be a party to the application.
Eni and Shell including their top executives are facing prosecution in Italy over the fraudulent circumstances in which OPL 245 was gotten
