Eni Escapes SEC's Libya Bribery Investigation

Law360, New York (September 4, 2013, 5:36 PM EDT) -- The U.S. Securities and Exchange Commission has wrapped up part of a probe into multinational energy companies' dealings with Libya in the Muammar Gaddafi era, informing Italian oil and gas producer Eni SpA that it won't face foreign bribery claims, the company disclosed Tuesday.

Eni had been scrutinized for two years over unspecified payments to Libyan officials that possibly violated the Foreign Corrupt Practices Act, but the SEC said in April that the investigations had been concluded “without further claims or observations," according to Eni's monthly U.S. securities filing.

The SEC first subpoenaed Eni and French energy giant Total SA in...

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