Shell: Nigeria's Bonny Light Still Under Force Majeure
Royal Dutch Shell said on Wednesday a declaration of force majeure remained in place on shipments of Nigerian Bonny Light crude oil, while exports at the Forcados shipping hub were running as normal. Shell's Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Ltd (SPDC), said on May 17 it had declared force majeure on exports of Bonny light following a shutdown on the Nembe Creek Trunk Line stream. Exports of Bonny Light are expected to run at around 195,000 barrels per day next month, making it Nigeria's third largest crude oil stream, behind Forcados and Qua Iboe.
Nigeria's Primary Crude Exports Set to Rise
Nigeria is set to export more of its largest crude oil stream, Qua Iboe, on a barrel-per-day basis in April, while loadings of two other main export grades will also rise, loading programmes showed on Friday. Forcados exports will also rise, to 262,000 bpd in April on 10 cargoes, up from 248,000 bpd on 11 cargoes in March. Bonny Light exports in April are also expected to edge higher on a bpd basis to 163,000 bpd in April, up from 161,000 bpd in March. The total Bonny loading volume will slip to 4.9 million barrels on five cargoes, down slightly from 4.99 million barrels on six cargoes in March.
North Sea Brent Oil Loadings to Slip in March
The North Sea Brent crude oil stream will load about 97,000 barrels per day (bpd) in March, down from 107,000 bpd planned in February, a trade source said on Wednesday. The March schedule lists five cargoes of 600,000 barrels each, the source said, the same as the revised February programme. Brent, together with Forties, Oseberg and Ekofisk, underpins the dated Brent benchmark price. (Reporting by Alex Lawler)
Buzzard Oilfield Output Falls Slightly after Glitch
Production at the UK's North Sea Buzzard oilfield has fallen slightly after a technical glitch, three trading sources said on Thursday. One source said that output was down by about 20,000 barrels per day (bpd) as of Thursday morning, while another said the outage was up to 30,000 bpd. The field's operator Nexen did not immediately respond to a request for comment. Buzzard produces about 180,000 barrels per day (bpd) and is the largest contributor to the Forties crude oil stream, one of four grades of oil that underpin the dated Brent benchmark.
30 Days of Force Majeure for Qua Iboe Crude
Exports of Nigeria's largest crude oil stream, Qua Iboe, will remain under force majeure for at least one month while operator ExxonMobil repairs a leak on the pipeline feeding the terminal, sources told Reuters. Exxon declared force majeure last week citing a "system anomaly" it observed during a routine check. Sources told Reuters this week that the pipeline lost pressure while loading a cargo of crude oil, and that the company subsequently discovered a leak on the underwater pipeline. An Exxon spokesman declined to comment on any leak or a timeline for repairs.
Nigeria Oil Exports Steady Despite Militant Attacks
Nigeria kept exporting crude oil at a largely steady pace in May, though below historical levels, despite repeated militant attacks on its infrastructure that drove output down to 30-year lows this spring and helped global prices rise, data showed. Data from maritime intelligence firm Windward and Thomson Reuters showed a far smaller drop in exports from April to May than most in the market had expected. It suggested that Nigerian oil production is more resilient than many thought. Its oil industry has been grappling with a spate of militant attacks that took out the Forcados crude oil stream in February and affected Bonny Light…
Storm Shutters Some North Sea Output
Loose barge drifts by platforms in North Sea; BP platform evacuated, output shut down. A fierce storm in the North Sea forced oil firms to evacuate platforms and shut down production on Thursday on concerns that they could be hit by a drifting barge that had broken its anchor. The strong winds had ripped the barge from its moorings and sent it towards BP's Valhall platform, which lies in the middle of the North Sea between Norway and Britain. This prompted the oil and gas company to shut down output and evacuate dozens of staff on board. ConocoPhillips also stopped production and removed crew from installations in the same area.
Shell Lifts Force Majeure on Nigeria's Forcados Crude Oil Stream
Shell has lifted a force majeure on exports of Nigeria's Forcados crude oil stream that had been in place for more than two months, the company said on Tuesday. "The Shell Petroleum Development Company Joint Venture lifted the force majeure on exports from Forcados Terminal effective 18:00 Nigerian time yesterday, July 13, 2015," Shell said in a statement. The company declared force majeure on the evening on May 5 following "a series of leaks" in the Trans Forcados pipeline that brings the oil to the export terminal. The original plan of exports for Forcados crude in July included seven cargoes with a total of 6.3 million barrels of oil…
Shell Declares Force Majeure on Forcados Crude Exports
Shell has declared force majeure on exports of Nigeria's Forcados crude oil stream, a spokesman for the company said on Wednesday. It declared force majeure on the evening on May 5 following "a series of leaks" in the Trans Forcados pipeline that brings the oil to the export terminal. The pipeline itself is operated by the Nigerian Petroleum Development Company (NPDC). Several cargoes of Forcados for May loading were still on offer, with around 189,000 barrels per day (bpd) scheduled for export in six cargoes. The June export program, with a total of 158,000 bpd, had not yet started trading, sources said.
