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Oil & Gas

Shell in Nigeria Declares Force Majeure After Pipeline Fires

June 14, 2011
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The Associated Foreign Press reports, Shell in Nigeria warned it may not be able to meet its contractual obligations for June and July on its Bonny Light crude, after multiple pipeline fires and leaks blamed on sabotage. The Anglo-Dutch oil giant said it declared a "force majeure on Bonny Light loadings for June and July... as a result of production cutbacks caused by leaks and fires, which occurred last week on the Trans Niger Pipeline (TNP)." Investigations showed that the "incidents were caused by hacksaw cuts which indicate third party interference and activities of unknown persons," it said. The force majeure came into effect at noon on Monday. Leaks and five separate fire incidents on the pipeline occured in four villages in Ogoniland last Thursday and the fires were put out two days later, Shell said in the statement. Shell is Nigeria''s leading oil operator. Nigeria, Africa''s largest oil producer, derives more than 90 percent of its foreign exchange earnings from oil.
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