Shell lifts force ma­jeure on Bonny Light ex­ports

Daily Trust - - FRONT PAGE - By Daniel Adugbo

The Royal Dutch Shell, Nige­ria di­vi­sion, lifted a force ma­jeure on ex­ports of Bonny Light crude oil, yes­ter­day, the lat­est sign that oil pro­duc­tion is re­cov­er­ing af­ter be­ing hit by mil­i­tant at­tacks in its oil rich Delta re­gion.

The force ma­jeure was lifted from 09:00a.m. Nige­rian time (0800 GMT) on Thurs­day, the com­pany said in a state­ment, fol­low­ing restora­tion of pro­duc­tion into Bonny Ter­mi­nal.

Two other Nige­rian crude oil grades, For­ca­dos and Brass River, re­mained un­der force ma­jeure.

But the coun­try’s oil pro­duc­tion has re­mained re­silient, de­spite some of the worst mil­i­tant at­tacks in decades on its oil fa­cil­i­ties.

The Reuters re­port said oil prices rose dur­ing the at­tacks, which briefly pushed Nige­ria’s pro­duc­tion to 30-year low.

Nige­ria is Africa’s largest oil ex­porter, but dropped into sec­ond place be­hind An­gola ear­lier this year due to the dis­rup­tions.

Still, some fields re­cov­ered more quickly than ex­pected so that Nige­ria’s ex­ports were largely steady from April into May.

Ex­ports were on track to rise in Au­gust, although the Niger Delta Avengers, the group that has claimed re­spon­si­bil­ity for the worst of the dam­age, has con­tin­ued to at­tack oil in­stal­la­tions.

Bonny Light ex­ports had con­tin­ued dur­ing the force ma­jeure, a le­gal dec­la­ra­tion made on May 11 fol­low­ing the clo­sure of the Nembe Creek Trunk line.

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