The Shell Petroleum Development Company of Nigeria Limited (SPDC) announced on Wednesday that oil exports from the Bonny Crude Oil Export Terminal had resumed.
According to the News Agency of Nigeria (NAN), the resumption of operations at the facility follows the lifting of the ‘Force Majeure’ on oil exports caused by a blast on a pipeline feeding the terminal on March 3, 2022.
Force Majeure is a legal term used in contracts to protect businesses from liability for failing to meet contractual obligations due to circumstances beyond their control.
According to NAN, on March 3, an explosion near the Trans Niger Pipeline, which transports crude from oilfields in Rivers and Bayelsa, 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 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)
