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Shell declares force majeure on Nigeria oil exports

BY SELINA WILLIAMS

LONDON -- Shell said it had declared force majeure on exports of its Nigerian Forcados and Bonny Light crude oil due to damage of pipeline infrastructure, flooding and a fire.

A force majeure is declared when a company is unable to fulfill its contractual obligations to deliver the crude due to circumstances beyond its control.

Bonny loadings are affected as the result of a production deferment caused by the fire incident on a bunkering ship on the Bomu Bonny Trunkline and production deferment from a third-party producer because of flooding, Shell said. Bunkering refers to theft of oil from pipelines.

Forcados loadings are affected because of damage caused by suspected bunkering activity on the Trans Forcados Pipeline and the Brass Creek trunkline. Shell' s Nigeria subsidiary is working to repair the pipelines as soon as possible, the company said.

The company said the force majeure was effective from Friday, 19th October.

Dow Jones Newswires

10/23/2012

 

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