Oil Theft Forces Shell to Declare Force Majeure on Bonny Light
Shell has declared force majeure on Bonny Light crude cargoes. The force majeure took effect from Friday afternoon. According to the oil multinational, it was forced to take the action due to the incessant pillaging and theft of crude oil from its Nembe Creek Trunkline.
The company has shut down the line for repairs, stalling 60,000 barrels of daily crude oil production that is estimated to cost the country over N 1 billion on a daily basis.
An emailed statement from the company said, “”Shutdown of the line for repairs will result in a deferment of some 60,000 barrels per day of production,” an emailed statement from the Anglo-Dutch major said.
“The action is due to production deferment caused by incessant crude theft and illegal bunkering on Nembe Creek Trunkline (NCTL)… SPDC (Shell Petroleum Development Company of Nigeria) is working hard to repair the line and resume production as quickly as possible.”
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