By Johnbosco Agbakwuru ABUJA—THE Minister of Petroleum Resources, Dr. Ibe Kachikwu, yesterday stated that Nigeria lost about $21 billion (N7.6 trillion) to International Oil Companies, IOCs, operating in the country due to non-implementation of the Production Sharing Contract, PSC, Act of 1993, otherwise known as the Deep Shore Act. Ibe Kachikwu Consequently, the Federal Executive Council, FEC, at the weekly meeting presided over by the Vice President, Prof. Yemi Osinbajo, at the Council Chamber, approved an amendment of the Act, especially Section 15, by the Ministries of Petroleum, and Justice for subsequent passage by the National Assembly.