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Friday, December 24, 2021
Nigeria’s Forcados export terminal has seen another stoppage with a Royal Dutch Shell subsidiary halting crude oil shipments. SPDC, or Shell Petroleum Development Co has issued a notice of force majeure on Forcados shipments, effective from Dec. 21.
According to the Nigerian National Petroleum Corp., the stoppage occurred during replacement of one of the two single point moorings at Forcados, with the positioning of a jack-up barge preventing tanker access, export operations and resumption of full production into the terminal.
A revised offtake program is in planning, meanwhile, Nigeria loses much need revenue while some of its crude oil is off the market. The company is working to get shipments back online but does not currently have an estimate as to when the force majeure will be lifted.
Nigerian crude oil exports have been hampered over the past couple of months with an October force majeure at the Bonny terminal. Traders are hesitant to contract Nigerian cargoes due to reliability issues.
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