Business

Shell says force majeure still in place on Nigerian Bonny crude

Isaac UmunnaComment(0)

Royal Dutch Shell said on Monday a declaration of force majeure remained in place on shipments of Nigerian Bonny Light crude oil. Shell’s Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Ltd (SPDC) said on May 17 it had declared force majeure on exports of Bonny light following a shutdown on the Nembe Creek Trunk Line stream.

Exports of Bonny Light are expected to run at around 195,000 barrels per day next month, making it Nigeria’s third largest crude oil stream, behind Forcados and Qua Iboe. Reuters

Isaac Umunna

Related Articles
Business

NCAA warns against selling tickets in foreign currencies

Isaac Umunna

The Nigerian Civil Aviation Authority (NCAA) has warned all airlines selling flight tickets in foreign currencies in Nigeria to desist from the practice forthwith. The NCAA issued the warning in a statement issued by its Acting General Manager, Public Relations, Mr Sam Adurogboye, in Lagos on Sunday. The statement said the act contravened the Central […]
Business

Iraqi oil minister denies seeking exemption from OPEC + output cuts in 2021

Isaac Umunna

Iraqi oil minister Ihsan Ismaael has denied a Reuters report that said Iraq wants to seek an exemption from OPEC+ output cuts in 2021, calling the report “baseless” and reaffirming the country’s support for the curbs agreed in April. “Iraq welcomed the production adjustment decision reached in April 2020 by all participating countries,” the minister […]
Business

Nigeria to sell N213 billon treasury bills

Isaac Umunna

The Central Bank of Nigeria on Friday said the country plans to offer 212.85 billion naira ($675 million) in Treasury bills maturing between 91-days and 1-year on Aug. 31. The bank said it will sell 45.85 billion naira worth of the 91-day bills, 62 billion naira of the 182-day paper and 105 billion naira of […]