Nigeria Says Shell, Exxon Owe $1.9B

Law360, New York (May 21, 2008, 12:00 AM EDT) -- The Nigerian president has reportedly said that Royal Dutch Shell Plc and Exxon Mobil Corp. owe more than $1.9 billion under production sharing contracts.

Royal Dutch Shell Plc said it is in ongoing negotiations with Nigeria National Petroleum Corp. And Exxon Mobil Co. said that its affiliates comply with all laws and regulations.

“We are in ongoing discussions with NNPC and other partners about an offshore block called OML 118,” Shell spokesman Rainer Winzenreid said Wednesday. Winzenreid declined to comment further.

OML 118 is where Nigeria's...
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