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Nigerian president orders Shell, Exxon to pay oil arrears

Nigerian President Umaru Yar’Adua Tuesday ordered the state-run oil firm NNPC to recover payment arrears of 1.91 billion dollars (1.22 billion euros) from Shell and ExxonMobil, a statement said. The sum represents outstanding payments on the Production Sharing Contracts (PSC) on the Bonga and Erha oilfields, accounting for about 20 percent of Nigeria’s total oil production, it said. Full Story

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