Royal Dutch Shell PLC’s Nigerian unit announced that it had lifted the force majeure that was declared on Bonny Light oil exports because of a leak on the Trans Niger Pipeline, Fox Business reported.
Shell had declared the force majeure on June 8 following the shutdown of the Trans Niger Pipeline after a sabotage attack by suspected oil thieves, Platts informed.
The resumption of Bonny Light exports would push Nigeria’s output to more than 2mb/d, coming on the back of the resumption of deliveries from the Forcados oil terminal in late May after being out for several months.
Oil theft in Nigeria has remained a major headache for both Nigeria and the producers in the area, even as the government has been able to check the activities of militants in the main producing Niger Delta region through peace talks.
Nigerian oil output plummeted to near 30-year lows of around 1.2mb/d in May 2016 from 2.2mb/d earlier that year as attacks on oil facilities in the Niger Delta rose at an alarming pace due to resurgent militancy.