Anglo-Dutch oil group Shell said Friday it had resumed shipments of crude from its Nigerian export terminals Bonny and Forcados following the repair of its damaged supply pipelines. "The force majeure on Forcados loading was lifted... Thursday, while that of Bonny had been lifted earlier on November 21," Shell spokesman in Lagos Precious Okolobo told AFP. Force majeure is a legal term releasing a company from contractual obligations due to circumstances beyond its control. Shell's Nigerian subsidiary had suspended loadings at Bonny and Forcados on October 19 because of theft, flooding and damage to the supply pipelines. Pipeline damage and associated spills are common in the Niger Delta region as a result of oil theft to feed the lucrative black market. Militants claiming to be fighting for a fairer distribution of oil revenue have also regularly blown up pipelines, though such attacks have decreased since a 2009 amnesty deal. Although Shell did not disclose the volume of crude exports affected by the shut-down, industry sources said both Bonny and Forcados account for substantial percentage of Nigeria's total oil exports. Nigeria is Africa's largest oil producer, exporting between two and 2.4 million barrels per day in recent months.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor