Shell Lifts Force Majeures on Nigerian Oil Exports

The Anglo-Dutch oil giant said the measures - which had affected all of its export programs from Nigeria and were declared in July and October last year - had been lifted with effect from 1700 GMT on Jan. 7.

"The force majeures have been lifted because the associated commercial obligations for crude oil offtakes have been met," the company said in a statement.

Shell warned in October that it would not be able to meet all of its Nigerian supply obligations in November and December following a decision by the Organization of Petroleum Exporting Countries to reduce exports.

As an OPEC member, Nigeria was bound by the decision, which Shell said at the time affected all of its offtake programs, which include Bonga, Bonny Light and Forcados.

Shell's Bonny Light output had already been under an indefinite force majeure declared in July due to underproduction caused by repeated sabotage attacks against oil pipelines and facilities in the restive Niger Delta region.

That measure was also lifted on Wednesday, Shell said, although the firm gave no production details.

"We are continuing with repairs of damaged facilities and recovering production. We are unable to provide any details," a Shell spokeswoman in Nigeria said.

Author: Ksenia Kochneva