Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the resumption of oil exportation from the Bonny crude oil export terminal, following the lifting of force majeure on oil exports at the facility.
SPDC had declared a force majeure on oil exports due to a blast on a pipeline feeding the terminal on March 3, 2022.
Force Majeure is a legal clause that allows a company to skip contractual obligations in the event of issues beyond its control.
In a statement issued on Wednesday, Bola Essien-Nelson, SPDC’s media relations manager, said that the resumption of oil exports follows the lifting of the force majeure. The statement read, “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from Wednesday, March 15, 2023. The force majeure was declared on March 3, 2022, following a significant decline in crude receipts at the Bonny Oil and Gas Terminal.”
