Shell Lifts Force Majeure on Nigerian Bonny Light Crude Exports
Royal Dutch Shell's subsidiary in Nigeria, SPDC, lifted force majeure on Bonny Light crude oil exports at noon local time (1100 GMT) on Thursday, a spokesman said. Shell declared force majeure one month ago following the shutdown of the Nembe Creek Trunk Line, one of the two main pipelines taking Bonny Light grade to the export terminal. Exports have been continuing via the Trans Niger Pipeline.
Protesters Storm Shell's Niger Delta Crude Station
Hundreds of Nigerian protesters stormed a crude oil flow station owned by Shell in the restive Niger Delta on Friday demanding jobs and infrastructure development, a Reuters witness said. The protesters complained they were not benefiting from oil production in their area, a common refrain in the impoverished swampland that produces most of Nigeria's oil. They also demanded an end to oil pollution in the area.
Oil Rises on Saudi Export Cut Pledge
Saudi Arabia to limit exports to 6.6 mln bpd in August; OPEC to tackle some members' compliance with output deal. Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with output cuts to help rein in oversupply and tackle flagging prices. Brent crude futures were up 68 cents at $49.28 a barrel by 1054 GMT. U.S.
Shell Shuts Bonny Light Pipeline to Stop Thefts
The Nigerian subsidiary of Royal Dutch Shell Plc said it had shut down the Nembe Creek Trunk Line, which exports Bonny Light crude oil, in order to remove theft points. The line, operated by Aiteo, is one of two along with the Trans Niger Pipeline that carries Bonny Light crude oil to the export terminal. Exports of roughly 232,000 barrels per day (bpd) were planned in April…
Oil Down Again on Surprise U.S. Stock Build
U.S. crude oil stocks rise 9.3 million barrels. Nigeria and Libya also boosting output. Crude oil prices fell for a fourth day on Wednesday as jittery investors awaited official U.S. stockpile figures later in the day after industry data showed a surprise build in inventories, underlining the market's supply overhang. The American Petroleum Institute said that crude stockpiles rose by 9.3 million barrels in the week to Oct.
Nigeria's TNP Bonny Light Pipeline Shut Down
Nigeria's Trans Niger Pipeline, one of two major pipelines that carries the Bonny Light crude grade for export, was shut down on Monday, an industry source familiar with the matter said. The cause for the shutdown or impact on production was not known. Oil major Shell, which manages exports of Bonny Light, could not immediately be reached for comment. (Reporting By Julia Payne)
Trans Niger Pipeline Shut Down
Nigeria's Trans Niger Pipeline, one of two major pipelines that carries the Bonny Light crude grade for export, was shut down on Wednesday after a leak was found, industry sources familiar with the matter said. The shutdown comes just as repairs were completed on the Nembe Creek Trunk Line that also moves the major export grade. Force majeure was declared by Royal Dutch Shell on Bonny Light exports after the NCTL was closed in early May.
Oil Soars in Biggest One-day Rally in Years
Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month slump that reached 6-1/2 year lows this week, oil climbed as world stock markets rose on hopes Chinese government measures to stimulate the economy would pay off…
Shell Declares Force Majeure on Nigerian Bonny Oil Exports
Royal Dutch Shell's Nigeria operation has declared force majeure on its Bonny Light crude oil exports after shutting down two key pipelines due to a leak and oil theft, the company said on Thursday. Shell said in a statement it had closed the Trans-Niger Pipeline due to a leak and the Nembe Creek Trunkline to repair damage caused by oil thieves. (Writing by Joe Brock)
Nigerian Oil Pipelines Shut Down Due to Leaks
Nigeria's Trans Forcados oil and gas pipeline and related production as well as Shell's Nembe Creek line, carrying Bonny Light crude, were shut at the weekend, the ministry of power and Shell said in separate statements on Tuesday. The 150,000 barrel per day (bpd) Nembe line was shut on Jan. 17 after a leak was found, which is still being investigated, a spokeswoman for Shell said.
