September 20, 2016, 4:48 P.M. ET
By Dimitra DeFotis
Allegedly illegal Nigerian oil exports valued at $12.7 billion are at the heart of a lawsuit the country has filed against units of Chevron (CVX), Royal Dutch Shell (RDSA), Total (TOT) ENI (E) and Petroleo Brasileiro (PBR).
The case points to outsiders’ shipments to the United States between 2011 and 2014, but is likely to expose domestic corruption as well. Militants have crippled Nigeria’s oil production this year, a recurring theme over recent decades. Lagos hearings, which begin next week, come as the country struggles with the affects of policy stagnation, currency devaluation, inflation and low oil revenue.