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8 months ago
Nigeria signs deal with oil companies to clear unpaid bills
December 15, 2016 / 12:29 PM / 8 months ago

Nigeria signs deal with oil companies to clear unpaid bills

ABUJA, Dec 15 (Reuters) - Nigeria will clear unpaid bills for production joint-ventures piled up over many years under a deal signed on Thursday with Shell, Chevron, Total, Eni and Exxon Mobil.

The deal would unlock fresh investment in the OPEC member country, Oil Minister Emmanuel Ibe Kachikwu said in a speech at the signing ceremony, without giving details.

He said last month the agreement was worth $5.1 billion, or $1.7 billion less than the total amount owed in unpaid bills. (Reporting by Paul Carsten and Ulf Laessing; editing by Jason Neely)

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