Milan

Eni chief Scaroni probed for 'international corruption'

Energy boss implicated in alleged bribes-for-contracts affair

Eni chief Scaroni probed for 'international corruption'

Milan, February 7 - The chief executive officer of Italian energy company ENI, Paolo Scaroni, has been placed under investigation for suspected international corruption as part of a probe into alleged bribery in relation to energy contracts in Algeria. Investigators are looking into an alleged 200-million-euro backhander given in exchange for contracts for ENI subsidiary Saipem, Europe's largest oil contractor by market value. Judicial sources claim Scaroni met with an intermediary for a Hong Kong company charged with collecting the bribes on behalf of Algerian officials. The company chief has denied any wrongdoing, saying ENI had "nothing to do" with the affair. Seven other people are being investigated in relation to the probe, including numerous current and former Saipem managers. ENI shares closed down 4.62% on the Milan exchange on Thursday as a result of the revelations.

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