The country has lost at least N689bn to the
suspension of exports of Forcados, one of the nation’s largest crude oil
grades, since February. Friday, October 21, 2016 marked exactly eight months
that Shell declared force majeure on the export of Forcados. The force majeure,
a legal clause that allows it to stop shipments without breaching contracts,
came a week after the Forcados export line was attacked by militants in the
Niger Delta. It has yet to be lifted as of the time of filing this report.
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