Eni CEO: Corruption investigation unlikely to affect mandate

Eni CEO Claudio Descalzi, right, talks with Borsa Italiana s.p.a. CEO Raffaele Jerusalmi prior to the Eni investor meeting, in Milan, Italy, Wednesday, March 15, 2017. (AP Photo/Antonio Calanni)
Eni CEO Claudio Descalzi stands prior to the Eni investor meeting, in Milan, Italy, Wednesday, March 15, 2017. (AP Photo/Antonio Calanni)
Eni CEO Claudio Descalzi stands prior to the Eni investor meeting, in Milan, Italy, Wednesday, March 15, 2017. (AP Photo/Antonio Calanni)

MILAN — The CEO of Italian oil and gas producer ENI says he does not expect that corruption investigations into a Nigerian oil field contract will impact a decision on renewing his mandate.

CEO Claudio Descalzi said Wednesday that he didn't think investigations in Milan and Nigeria would impact the decision, but added "you need to ask those who must decide."

The Italian government, which is ENI's largest shareholder with a 30-percent stake, is expected to decide this month whether to confirm Descalzi. Investors have praised the current management's results, particularly in exploration and production.

Milan prosecutors are seeking indictments against Descalzi and 10 others for allegedly paying bribes to win rights to a $1.1 billion sale of one of Africa's richest oil blocks. A decision isn't expected before June.

Must Read

Rugby couple put respect in front and center in Olympics

Aug 10, 2016

Isadora Cerullo has become a celebrity around Rio, more for what happened on the sidelines of the Olympic rugby stadium than for her performances on the pitch

Ride operator had other incident before Ferris wheel spill

Aug 11, 2016

The organizers of the eastern Tennessee fair where three girls fell from a Ferris wheel kept their ride operator despite an incident across the state line that injured five and caused the owners' son to be jailed

Australian official rejects criticisms of China investor ban

Aug 12, 2016

Australia's treasurer has rejected accusations that the true reason his government plans to ban Chinese bidders from leasing a Sydney electricity grid is to appease influential lawmakers with xenophobic views

People also read these

WHY IT MATTERS: All will be touched by choice in November

Aug 11, 2016

Hillary Clinton and Donald Trump offer voters distinct choices this fall on issues that shape everyday lives

Clinton knocks 'outlandish Trumpian ideas' in policy speech

Aug 11, 2016

Hillary Clinton sought to undercut Donald Trump's claim to working class voters Thursday, portraying her Republican rival as untrustworthy on economic issues, and pushing policies that would only benefit the super-wealthy _ himself included

Ali tribute book to be released by Jeter imprint

Aug 11, 2016

A very great athlete will help pay tribute to "The Greatest": Derek Jeter's publishing imprint is set to release "Muhammad Ali Unfiltered." Publication is scheduled for October