The Shell Petroleum Development Company of Nigeria Limited (SPDC) on Wednesday announced the resumption of oil exports from the Bonny Crude Oil Export Terminal.
The News Agency of Nigeria reports that the resumption from the facility follows the lifting of ‘Force Majeure’ on oil exports due to a blast on a pipeline feeding the terminal on March 3, 2022.
Force Majeure is a legal clause inserted in contracts to shield companies from liabilities in meeting contractual obligations due to circumstances 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.
“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.