Oil Export: Shell Resumes Activities From Bonny Terminal

Shell Petroleum Development Company of Nigeria Ltd (SPDC) on Wednesday resumed oil exports from the Bonny Crude Oil Export Terminal.

Crude oil shipments resumed from the facility on March 3, 2022, after the "Force Majeure" ban on oil exports was lifted as a result of an explosion on a pipeline supplying the terminal.

A legal provision known as "Force Majeure" is put in contracts to protect businesses from liability for failing to fulfil duties under the agreement as a result of events beyond their control.

12 suspected oil thieves were killed in an explosion near the Trans Niger Pipeline on March 3, according to NAN, which transports crude from oilfields in sections of Rivers and Bayelsa.

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, Bola Essien-Nelson

“The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on the 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.