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Shell asks shippers exporting Nigerian oil to sign NNPC guarantee

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Fri Oct 9, 2015

LONDON Oct 9 (Reuters) – Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a “letter of comfort” (LoC) to guarantee that its oil is not stolen, an email from the company seen by Reuters showed.

“Please be informed we expect LPG & Products ship owners to sign the NNPC LoC for any future Shell loading voyages,” the email stated.

NNPC, Nigeria’s state oil company, has lifted a ban on over 100 vessels due to suspected oil theft, but asked ship owners last month to sign a letter of comfort to “guarantee to indemnify” it against any illicit use of their vessel.

This led some owners to reject pending bookings.

Shell had no immediate comment. (Reporting by Simon Falush. Additional reporting by Florence Tan in Singapore. Editing by Jane Merriman)

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