Abuja - For failing to renew the leases of some oil companies which licenses expired between three and four years ago, Nigeria is losing hundreds of millions of dollars.
The money would have been made from the renewal of licences by about four international oil companies (OICs), reports BusinessDay
The oil majors, with the exception of ExxonMobil, have been in failed negotiations with the government for several years to renew these expired licenses.
Shell, Chevron, Total and Agip are currently operating onshore acreages with expired licenses.
Read more at BusinessDay.
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