U.S. Markets closed

Nigeria judge says court should rule in Chevron dispute

LAGOS, Jan 27 (Reuters) - A Nigerian judge ruled on Monday that the Federal High Court should have jurisdiction over Chevron's asset sale dispute with Nigerian company Brittania-U, the local firm's lawyers said outside the court.

Chevron is seeking to sell five onshore oil blocks and has been in negotiations with several local players.

Brittania-U, run by former Chevron executive Catherine Uju Ifejika, was the highest bidder at over $1 billion for the biggest cluster of blocks - OML 52, 53 and 55 - and Chevron had begun discussions with the company over the sale.

But Chevron decided to look at alternative bids after Brittania-U did not show sufficient evidence it could muster the amount promptly, industry sources said.