The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced that oil exports from the Bonny Crude Oil Export Terminal have resumed.
This follows the lifting of the ‘Force Majeure’ on oil exports on March 3, 2022, due to a blast on a pipeline feeding the terminal.
Force Majeure is a legal term used in contracts to protect companies from liability for failing to meet contractual obligations due to events beyond their control.
A blast near the Trans Niger Pipeline, which transports crude from oilfields in Rivers and Bayelsa, killed 12 suspected oil thieves earlier this month.
Mrs Bola Essien-Nelson, SPDC’s Media Relations Manager, announced the lifting of the Force Majeure on its oil cargo from the 1.25 million barrels per day terminal in a statement.
“The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from Wednesday, March 15, 2023.
“The force majeure was declared on March 3, 2022, following a significant decline in crude receipts at the Bonny Oil and Gas Terminal,” the oil firm stated.
NAN
