Nigeria’s oil export level to fall again
Nigeria’s oil exports will fall to a four-year low as a result of crude oil theft and resultant facility closures by some oil companies, news agency Reuters is reporting.
Quoting the shipping lists it saw Tuesday, the agency says Nigeria will now export 1.76 million barrels per day (bpd), the lowest since August 2009.
Royal Dutch Shell had earlier in the month declared a force majeure on the Bonny Light grade of crude oil which caused it to close the 150,000 barrel per day (bpd) Nembe pipeline for six weeks.
On April 1, Italian oil firm, Eni, shut down its activities in the swampy oil fields of Bayelsa State over theft.
The firm attributed the frequent spills to oil theft by vandals and said it had decided to shut down operations to prevent further damages to the environment.