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Shell lifts force majeure on Nigerian Bonny Light crude oil exports

Lagos — Shell has lifted the force majeure on exports of Nigeria's main export crude, Bonny Light, a company spokesman said Friday.

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Related Platts price assessment: West African crude oil price

Shell had declared the force majeure on Bonny Light liftings on June 8 following the shutdown of the Trans Niger Pipeline after a sabotage attack on the line by suspected oil thieves.

"The force majeure on Bonny Light exports was lifted effective 12:00 hrs [local time] on Wednesday, June 28, after the repair of the sabotage leak on the SPDC JV's Trans Niger Pipeline," the spokesman said.



Bonny Light is produced in Nigeria from Chevron and Shell concessions.

Cargoes are loaded from the Shell-operated Bonny Light terminal, which can accommodate VLCCs. Bonny Light has an API gravity of 35.3 degrees and sulfur content of 0.15%.

The resumption of Bonny Light exports would push Nigeria's output to more than 2 million b/d, coming on the back of the resumption of deliveries from the Forcados oil terminal in late May after being out for several months.

Oil theft in Nigeria has remained a major headache for both Nigeria and the producers in the area, even as the government has been able to check the activities of militants in the main producing Niger Delta region through peace talks.

Nigerian oil output plummeted to near 30-year lows of around 1.2 million b/d in May 2016 from 2.2 million b/d earlier that year as attacks on oil facilities in the Niger Delta rose at an alarming pace due to resurgent militancy.

--Staff, newsdesk@spglobal.com
--Edited by James Leech, james.leech@spglobal.com