Nigeria Pays Oil Majors $3 Billion for Past Operational Dues
- Debt of $2.3 billion to Exxon Mobil has been fully paid: NNPC
- Nation still owes a total of $1.7 billion to the oil majors
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Nigeria reimbursed oil companies including Exxon Mobil Corp. and Royal Dutch Shell Plc $3 billion, moving closer to clearing operating expense arrears owed since 2010.
The payment is being settled through a five-year crude oil sales deal agreed in 2016, Nigerian National Petroleum Corp. said in a statement. While a majority has been paid as of August, there’s still about $1.7 billion outstanding. Exxon has got $2.3 billion, clearing all dues. Shell has received $455 million, but is still owed $917 million.