Saturday, May 4, 2019

Two Force Majeures in Nigeria

Nigeria saw a couple force majeures declared, the first coming from Shell. The firm declared a force majeure on exports of Nigeria’s Bonny Light crude following the closure of the Nembe Creel trunk line, one of two export pipelines, following a fire.

Bonny Light exports had been planned at 222,000 bpd in June and 184,000 bpd in May, but traders are awaiting new loading plans.

Two Shell oil workers in the country were kidnapped last week, prompting police to step up security operations.

Total is the second company to declare a force majeure. The French firm’s Amenam trunk line also reportedly is under force majeure following oil well shutdowns that cut production, which typically totals about 100,000 bpd.

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