Nigeria Starts Talks With Oil Majors to End $62 Billion Dispute
- Government claims it’s owed money as price of crude has risen
- Justice minister says possible settlement isn’t ‘out of sight’
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Nigeria began preliminary talks with international oil companies to settle a dispute over revenue.
The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil exceeds $20 a barrel. The companies are challenging the claim.