BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list
Oil

Shell confirms lifting of force majeure on Nigerian Bonny Light crude loadings

Oil

Oil market fundamentals: What's driving price sentiment in 2019?

Oil

Platts Rigs and Drilling Analytical Report (RADAR)

Agriculture | Electric Power | Natural Gas (North American) | Oil | Metals | Petrochemicals

North American Digital Commodities Summit, 2nd Annual

Oil

OPEC, allies finalize next meeting for Apr 17-18 in Vienna: official

Shell confirms lifting of force majeure on Nigerian Bonny Light crude loadings

London — Shell lifted the force majeure on exports of Nigerian crude Bonny Light on Friday following the repair and reopening of the Nembe Creek Trunkline (NCTL) by the operator, it said in a statement Saturday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Shell had declared force majeure on Bonny Light exports on May 17 following the shutdown of the NCTL by the operator Aiteo.

Bonny Light is one of Nigeria's key export grades, with production ranging around 200,000-250,000 b/d, and is very popular with global refiners.

Due to the lack of Bonny Light, Nigerian crude oil differentials had recently firmed against benchmark prices, with certain grades pushing to four-month highs of more than $1/b.

Nigerian medium-to-light sweet grades like Forcados and Qua Iboe had benefited the most as buyers look for alternative crudes.

These supply disruptions had helped tighten up the current overhang in the West African region, according to traders.

Bonny Light, a light sweet crude with a gravity of 35.3 API and a sulfur content of 0.15%, was under force majeure earlier this year and three times last year due to pipeline leaks caused by attacks by militants.

--Eklavya Gupte, eklavya.gupte@spglobal.com

--Edited by Maurice Geller, maurice.geller@spglobal.com