The Shell Petroleum Development Company of Nigeria Limited (SPDC) confirmed on Wednesday that oil shipments from the Bonny Crude Oil Export Terminal have resumed.
According to the News Agency of Nigeria, the restart of operations at the facility follows the easing of the ‘Force Majeure’ on oil exports caused by a burst on a pipeline supplying the terminal on March 3, 2022.
Force Majeure is a legal term used in contracts to protect businesses from liability for failing to satisfy contractual commitments due to situations beyond their control.
NAN reports that an explosion near the Trans Niger Pipeline, which evacuates crude from oilfields in parts of Rivers and Bayelsa, on March 3 killed 12 suspected oil thieves.
SPDC announced the lifting of the Force Majeure on its oil cargo from the 1.25 million barrels per day terminal in a statement issued by its Media Relations Manager, Mrs Bola Essien-Nelson
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“The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on the 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. .
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