FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt

FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt

A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn.

The report, which was obtained from the Nigerian National Petroleum Company Limited, outlined the five IOCs to include Shell Petroleum Development Company, Mobil Producing Nigeria and Chevron Nigeria Limited.

Source: https://punchng.com/fg-owes-five-iocs-1-15bn-cash-call-arrears-clears-3-53bn-debt/?utm_source=top-story&utm_medium=web&amp

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