Shell Petroleum Development Company of Nigeria (SPDC), Thursday, lifted force Majeure on Bonny Light exports, thus signalling the official restart of export of the crude oil grade from Nigeria, Vanguard reports.
The force majeure was placed to protect the company against any liability from importers in different parts of the world after the destruction of its Nembe Creek Trunk pipeline. Aiteo, an indigenous oil and gas company that handled the rehabilitation of the pipeline, said that work had been completed to pave way for resumption of exports.
SPDC explained that the force majeure was declared September 16, 2017, on Bonny Light crude, due to issues affecting one of the two main pipelines taking Bonny Light grade to the export terminal. Bonny Light has seen its production affected by declarations of force majeure at different points throughout the last year. Bonny Light’s production has averaged 5.545 million barrels over the last 12 months.
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