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Nigeria can sue Chevron, Total over illegal exports, judge rules

Sep. 30, 2016 8:51 AM ETChevron Corporation (CVX) StockTTE, CVX, PBR, SHEL, EBy: Carl Surran, SA News Editor12 Comments
  • Nigeria’s government can take the local units of Chevron (NYSE:CVX) and Total (NYSE:TOT) to trial for illegally exporting crude oil, a judge at the Federal High Court in Lagos rules.
  • Nigeria is taking several international oil companies - including Royal Dutch Shell (RDS.A, RDS.B), Eni (NYSE:E) and Petrobras (NYSE:PBR) - to court for allegedly failing to declare more than 57M barrels of crude exports during 2011-14; the government says the oil was worth ~$13B.
  • Trials against oil companies will begin on Oct. 26, the judge says.

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