Oil firms challenge withdrawal of major contract

Two multinational oil firms have challenged the propriety of the Nigerian Government withdrawing a major oil field from them. A Premium Times reports that Shell and Eni, through their Nigerian subsidiaries, asked a Federal High Court to reverse an order that revoked the awarding of the field to them. Justice John Tsoho in January granted an interim order directing the return of the field – Nigeria's richest with more than 9bn barrels of crude oil – to the government. The order was sought by the Economic and Financial Crimes Commission which said it was investigating the corruption surrounding the field.