Arcadia Petroleum Limited and its Chief Executive, Mr. Peter Bosworth are recipients of millions of British Pounds from a $1.3 billion Malabu oil deal, according to the Times, a leading newspaper in the United Kingdom.
It claimed that two middlemen “have been convicted in one case and there is a corruption trial against Shell and Eni, in which both deny wrongdoing. The deal is also the subject of civil action in the UK, where Nigeria has filed a High Court claim against the two oil companies.” “There is little publicly available information about Mr Bosworth and no photographs. He joined Arcadia Petroleum in 1992 and rose to become chief executive in 2000. The commodities trading group is owned by John Fredriksen, a Norwegian billionaire.
“The documents, obtained by Finance Uncovered and seen by The Times, suggest that Bosworth advised Etete on matters relating to OPL 245 and that Arcadia paid for flights and hotels for Mr Etete for several years spanning the 2011 deal. OPL 245 is said to be one of the most oil-rich licences in Africa. In 1998, Etete used his ministerial role to award the rights to the block to Malabu Oil and Gas. Nigeria claims that this was corrupt as Etete controlled Malabu.
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