Shell, Total Declare Force Majeure As Nigeria’s Oil Exports Plunge
Exports of Nigerian crude oil have suffered a significant disruption as two international oil companies operating in the country declared force majeure on two crude grades.
Force majeure is a legal clause that allows companies to...
Nigeria lost over N1.1 trillion in oil revenues in the last five months due to NigerDelta militants’ attacks on oil installations. The figure does not include losses in gas revenues resulting from disruptions in gas supplies to domestic power and industrial plants as well as...
With the declaration of force majeure on Bonny Light exports by Shell Petroleum Development Company of Nigeria Limited, about 400,000 barrels per day of Nigeria’s production has now been shut in.
Force majeure is a legal clause that allows an oil firm to stop shipments...
