MILAN (AP) — Milan prosecutors have placed Italian oil and gas company Eni and its CEO under investigation in a probe over alleged bribes paid to Algerian officials.
Eni said Thursday the company and CEO Paolo Scaroni were "totally unrelated to the object of investigation." Prosecutors last year opened an investigation into alleged corruption in the awarding of international contracts in Algeria related to Sapiem, the Eni-controlled oil service group. Various senior managers involved resigned or were dismissed, and Eni said it has pledged full cooperation with prosecutors.
Eni shares fell 4.62 percent to €17.33 ($23.48). Eni and its subsidiaries have been investigated before for alleged corruption involving contracts in Nigeria, Kuwait and Iraq. A U.S.-based investigation into Saipem subsidiary Snamprogetti Netherlands BV was dropped last year after Eni agreed to adopt anti-corruption measures.