Eni lifts force majeure from Nigerian Brass River crude exports

9/4/2013

Eni lifts force majeure from Nigerian Brass River crude exports

BY LIAM MOLONEY

ROME -- Eni SpA has said that the force majeure imposed on its Nigerian Brass River crude oil exports in March has been lifted.

"We removed the force majeure Monday," said an Eni spokesman.

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

The Rome-based company also declared a force majeure on Nigerian Brass oil in November 2012 that it lifted in January.

Eni last month said oil theft, sabotage and adverse natural events such as flooding have hurt its operations in Nigeria, amounting to a daily loss of 30,000 barrels of oil equivalent in the first six months of the year.

Nigeria is Africa's largest oil producer.

Dow Jones Newswires

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