YENAGOA, NIGERIA: Wed May 11, 2016
(Reuters) – Nigeria’s oil production is set to fall to its lowest in more than two decades after Royal Dutch Shell’s local operation said it had shut a major pipeline.
Nigeria’s oil output fell close to a 22-year low this month due to attacks on oil pipelines in the southern Niger Delta, home to much of the country’s oil and gas wealth, compounding the impact of low oil prices on Africa’s largest economy.
On Wednesday, Shell Petroleum Development Co (SPDC) said it declared force majeure on Bonny Light crude exports on Tuesday after closing the Nembe Creek Trunk line (NCTL) for repairs after a leak. NCTL carries all the country’s Bonny Light.