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Nigeria Agency Wants Chevron to Pay $3 Billion Fine for Fire

Nigeria’s oil spill agency said it wants Chevron Corp., the world’s fourth-largest energy company, to pay a $3 billion penalty for a rig explosion that caused a 46-day fire.

“Having looked at the relevant literature and what happens in other countries, we recommended a fine of $3 billion for Chevron,” National Oil Spill Detection and Response Agency’s Director-General Peter Idabor said in an interview in Abuja, the capital, yesterday. For now, the planned penalty is only a suggestion and “still not conclusive” as it requires the approval of lawmakers and President Goodluck Jonathan’s government, he said.