An Italian court Wednesday acquitted oil companies Royal Dutch Shell and Eni and a group of current and former executives of corruption charges surrounding a widespread bribery scheme to acquire oil exploration rights in Nigeria.

The ruling by the Tribunal of Milan ends a legal saga that began in December 2017. Among the executives found not guilty include Eni’s current Chief Executive Officer Claudio Descalzi; Eni’s former CEO Paolo Scaroni; and Malcolm Brinded, Shell’s former chief of exploration and production.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...