Oil exports have resumed at Forcados terminal, a key platform attacked by the Niger Delta Avengers in early 2016. The director of Shell Oil Company’s Global Upstream, Andrew Brown, confirmed the development on Tuesday. He spoke at a meeting with President Muhammadu Buhari. Forcados, with a 400,000 barrels-per-day capacity, was attacked by the so-called Niger Delta Avengers in February.
The attack significantly cut Nigeria’s oil output. It compelled Shell to announce a force majeure, a declaration made by a party to an agreement when it is unable to meet an obligation due to unforeseen circumstances. The Nigerian National Petroleum Corporation (NNPC) said at least N689 billion was lost during the period. Read more at http://www.premiumtimesng.com/
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