Home News Shell lifts force majeure on Nigerian Forcados oil

Shell lifts force majeure on Nigerian Forcados oil

by Business News Report

Shell Nigerian venture has lifted a force majeure on exports of Forcados oil after repairs to a pipeline, Shell has said signaling higher supplies from Nigeria. Shell Petroleum Development Co. had declared force majeure on Forcados loadings in October, November and December on Oct. 10, as it had to shut down some production after an attack on the Trans Forcados Pipeline.
Nigeria’s high-quality oil is widely exported to the United States, Asia and Europe and disruptions to supplies can affect world prices because it is priced against the Brent oil benchmark. A Shell spokeswoman had no information on production at the fields supplying Forcados. A trading source said supplies were returning and significant changes in cargoes’ loading dates were unlikely.

Related Posts