The Minister of State for Petroleum Resources; Dr. Ibe Kachikwu has revealed that the Federal Government of Nigeria (FG)a nd International Oil Companies (IOCs)have been unable to reach an agreement as to the exact amount involved in crude overlifts in oil lifited by IOCs on behalf of the government. Whilst the FG is asserting the IOCs are owed between $5 billion and $6 billion, the IOCs are maintaining that they are being owed $10 billion. To resolve this issue, the FG may explore the option of challenging the claim made by the IOCs in a court of law.
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