22 January, 2008 12:00:00
The Nigerian National Petroleum Corporation said a “problem” at the Bonny export terminal, operated by the local unit of Royal Dutch Shell plc, has delayed some crude shipments and is being resolved.
Force majeure has not been declared, NNPC spokesman Levi Ajuonuma said, referring to the legal clause that allows a company to miss contracted deliveries because of circumstances beyond its control. State-owned NNPC owns 55 percent of Shell’s Nigerian venture. Shell holds 30 percent, Total SA has 10 percent and Eni SpA owns 5 percent.
Ajuonuma didn’t specify the nature of the problem affecting the export terminal, the country’s oldest. Nigeria, Africa’s biggest oil producer, pumped an estimated 2.15 million barrels a day in December, according to data compiled by Bloomberg. read more
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