Nigeria Set to Recover U.S.$62 Billion From Oil Majors - Attorney-General

11 October 2019

The Nigerian government, through its attorney-General, Abubakar Malami, says it is determined to recover over $62 billion from multi-national oil companies for 'under-payment' to the country since 1998.

Under the country's joint operating agreement, Nigeria is authorised to review the existing profit-sharing formula with its partners once crude oil prices at the international oil market rise above $20 per barrel.

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