$60bn Claim Against IOCs Hard To Succeed – NNPC The claim that international oil companies operating in Nigeria owe the Federal Government over $60bn with respect to Production Sharing Contracts is hard to succeed, a top executive at the Nigerian National Petroleum Corporation, has said. The...

Oil & Gas: IOCs Delay $58.4bn Projects In Nigeria   A number of oil and gas projects valued at $58.4bn are facing an uncertain future as international oil companies operating in the country have failed to sanction them several years after they were announced. Industry experts said...

FG, IOCs Commence Talks On $62bn Dispute   The Federal Government has commenced preliminary talks with international oil companies in a bid to settle a dispute over oil revenue. Last week, it was reported that Nigeria was seeking to recover as much as $62bn from the IOCs,...

Nigeria Seeks To Recover $62bn From IOCs As Unpaid Profits     Nigeria is seeking to recover as much as $62bn from international oil companies, using a 2018 Supreme Court ruling that enables the Federal Government to increase its share of income from production-sharing contracts. The proposal comes...

NNPC To Assist FIRS, DPR Recover Unpaid Taxes, Others From IOCs The Nigerian National Petroleum Corporation (NNPC) has offered to help the Department of Petroleum Resources (DPR) and Federal Inland Revenue Service (FIRS) collect unpaid taxes and royalties from oil companies, including those on Joint...

IOCs Receive $1.5bn Cash Call Debt From NNPC   The Nigerian National Petroleum Corporation says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash call arrears of $5.1bn. Group Managing Director of NNPC, Dr Maikanti...