Search results for: Economic and Financial Crimes Commission

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  • 15 June 2015
    Business & Finance

    Nigeria’s Economic and Financial Crimes Commission (EFCC) has arraigned Dubai-headquartered Monjasa DMCC, Glencore Energy UK Limited, the vessel MT Anuket Emerald, and 14 foreign nationals alleged to be involved in illegal oil bunkering on a 4-count charge bordering on conspiracy and illegal dealing in petroleum products. The accused have been charged with conspiracy to commit an offence, as well as […]

  • 17 March 2017

    A Nigerian court has reportedly overturned its earlier ruling on the temporary forfeiture of an offshore oil block jointly owned by Shell and Eni which they bought for $1.3 billion in 2011. According to the Nigerian media, Justice John Tsoho of the Federal High Court, Abuja, on Friday upheld the application Shell and Eni had […]

  • 16 June 2015
    Business & Finance

    The charges of illegal bunkering brought by Nigeria against Dubai-based Monjasa DMCC are unfounded, as the arrested MT Anuket Emerald was in international waters at the time the Nigerian navy boarded and inspected the vessel, Monjasa Group CEO Anders Østergaard said in a statement. The navy boarded the vessel to check whether it was carrying Nigerian […]

  • 12 February 2016

    A court in Nigeria has ordered the release of nine seafarers that were held in the country since the arrest of their ship in March 2015. The ship ‘Melilli’, also known as ‘Asteris’, was arrested in March 2015 in Nigeria on charges of illegal oil trading. Some of the seafarers were imprisoned, and others left […]

  • 3 March 2017

    ABUJA (Reuters) – Nigeria’s financial crime watchdog has filed new corruption charges against Royal Dutch Shell <RDSa.L>, Eni <ENI.MI> and others regarding the $1.3 billion purchase of a long-disputed oilfield in 2011, according to court documents released on Thursday. The charges of conspiracy to commit a felony and official corruption were made after an investigation […]

  • 11 April 2017

    By Libby George LONDON (Reuters) – Royal Dutch Shell <RDSa.L> has said it knew that some of the payments it made to Nigeria for the rights to an oilfield would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer. Shell spokesman Andy Norman said the […]

  • 9 February 2017

    By Bartolomej Tomic Italian prosecutors have reportedly charged Eni and its CEO Claudio Descalzi with international corruption over the controversial acquisition of an offshore block in Nigeria in 2011. Apart from Descalzi, the charge reportedly extends to the former CEO Paolo Scaroni and nine other people involved in the $1.3 bilion deal. Scaroni served as […]

  • 20 February 2012

    Israel will establish a sovereign fund to manage revenue from natural gas resources, with the fund’s profits being invested in strategic projects for the State of Israel, Ministry of Foreign Affairs said in a press release. “This is in order to ensure the efficient and wise utilization of natural resources without harming jobs and competitiveness […]

  • 5 February 2020
    Authorities & Government, Business & Finance

    The European Commission is partnering with the European Investment Fund, part of the European Investment Bank Group (EIB), to launch a €75-million equity investment fund for the blue economy (BlueInvest Fund). The BlueInvest Fund will be managed by the European Investment Fund and will provide financing to underlying equity funds that strategically target and support […]

  • 21 March 2013

    After an in-depth investigation, the European Commission concluded that the acquisition of bonds worth PLN 120 million (around €40 million) of Nauta Shipyard by the State-owned Polish Industrial Development Agency (IDA) was in line with EU state aid rules. The Commission found that the bonds were acquired on market terms and therefore did not give […]

  • 4 February 2020
    Business & Finance

    The EC and EIF launch the BlueInvest Fund in an effort to support innovations in the maritime sector. 

  • 27 May 2011
    Business & Finance

      IMO’s Maritime Safety Committee (MSC), which met at the Organization’s London Headquarters for its 89th session from 11 to 20 May 2011, completed a packed agenda, including the development of interim guidance on the employment of privately contracted armed security personnel on board ships transiting the high-risk piracy area, the adoption of amendments to […]

  • 22 May 2017
    Business & Finance

    There is a USD 1.6 trillion shortfall in trade finance globally, the International Chamber of Commerce (ICC) said citing recent studies, urging for an urgent UN-led review of the trade financing gap. As disclosed, the gap has grown since the peak of the 2009 financial crisis—with the biggest gaps provision hitting developing and emerging economies in Africa […]

  • 23 January 2020
    Authorities & Government, Business & Finance, Research & Development, Storage, Technology

    The European Commission has recently presented “The European Green Deal’s Investment Plan – the Sustainable Europe Investment Plan” to mobilise public investment and unlock private funds through EU financial instruments, which would lead to at least €1 trillion of investments. On 11 December 2019, the Commission presented the European Green Deal, with the ambition of […]

  • 28 November 2014
    Business & Finance

    Finland’s Cabinet Committee on Economic Policy has outlined the future of the wholly state-owned company Arctia Shipping Ltd., saying that all of the company’s vessels must be replaced by 2029 for the total investment of EUR 1 billion (USD 1.25bn).  The outline is based on a joint draft by the Prime Minister’s Office, the Ministry of Transport and Communications, the […]

  • 17 May 2015
    Business & Finance, Project & Tenders

    Janusz Piechocinski, Deputy Prime Minister of Poland, has officially inaugurated the construction of the second deep-water berth in DCT Gdansk (T2). The T2 groundbreaking ceremony took place on Friday, 15th of May, 2015. The inauguration of the construction works was preceded by the round table discussion, which was a good opportunity to raise awareness of Australia’s […]

  • 29 April 2012

    On 26 April 2012, UK Prime Minister David Cameron addressed global clean energy ministers at the third Clean Energy Ministerial (CEM3) in London. The Prime Minister spoke about the need to create a more diverse, cleaner energy mix that enhances energy security, reduces emissions, and drives economic growth. He also noted the vital role of […]

  • 29 April 2012

    On 26 April 2012, UK Prime Minister David Cameron addressed global clean energy ministers at the third Clean Energy Ministerial (CEM3) in London. The Prime Minister spoke about the need to create a more diverse, cleaner energy mix that enhances energy security, reduces emissions, and drives economic growth. He also noted the vital role of […]

  • 18 December 2012
    Business & Finance

    Allana Potash Corp. expressed its congratulations to the Djibouti Ports and Free Zones Authority (DPFZA), the Governments of Djibouti and Ethiopia, and the people of Tadjourah Region in Djibouti, on the official completion of financing and start of construction of the new bulk port at Tadjourah, Djibouti. Attending the December 12, 2012 ceremony for the […]

  • 25 March 2014
    Authorities & Government, Business & Finance

    The Prime Minister is welcoming the decision by Siemens and Associated British Ports (ABP) today to invest £310 million in wind turbine production and installation facilities in Yorkshire. Providing a huge boost to the UK’s offshore wind industry and the local area, this investment will create up to 1,000 jobs directly, with additional jobs during […]

  • 25 March 2014
    Authorities & Government, Business & Finance

    The Prime Minister is welcoming the decision by Siemens and Associated British Ports (ABP) today to invest £310 million in wind turbine production and installation facilities in Yorkshire. Providing a huge boost to the UK’s offshore wind industry and the local area, this investment will create up to 1,000 jobs directly, with additional jobs during […]

  • 12 November 2019
    Business & Finance

    The first EUR 100 million tranche of the 20-year loan was signed on November 11.