Nigerian oil minister says FG not optimistic about recovering $62bn from oil majors

Oil minister Timipre Sylva said Nigeria knows it cannot recover $62 billion from oil majors despite ongoing cases against the companies for money the government believes it is owed.

“Nobody can bring out that kind of money,” Sylva told reporters following a weekly cabinet meeting in Abuja. “I mean, we can’t get $62 billion. We can maybe get something from them but not $62 billion. It’s an opportunity we have lost.”

He said discussions over recovering some money from the oil majors, such as Shell, Chevron, ENI, ExxonMobil and Total, were ongoing.

 

Source: Hellenic Shipping News

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