Thursday, July 15, 2010
Total Said to Declare Force Majeure for Angolan Girassol Crude
Exports of Angolan crude oil from the Girassol field operated by Total SA may be canceled or delayed because of production difficulties, according to a trader with knowledge of the matter.
The Paris-based company declared force majeure, meaning scheduled deliveries may not be made because of circumstances beyond the seller’s control, according to the trader. Total officials in Paris didn’t immediately return calls seeking comment today, which is a public holiday in France.
Exports from the Girassol field were originally planned to average 193,548 barrels a day in August, according to loading schedules. The trader declined to be identified because the information isn’t public.
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Posted by Crude Oil Daily at 12:56 PM
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