October 16, 2019 / 4:00 PM / a month ago

Nigerian oil min says govt can't recover $62 bln sought from oil majors

ABUJA, Oct 16 (Reuters) - 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. (Reporting By Felix Onuah in Abuja, writing by Libby George Editing by Chizu Nomiyama)

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