ABUJA/GENEVA: ExxonMobil yesterday became the fourth oil major in a month to warn customers over delays to Nigerian oil and gas exports, adding to a raft of problems for Africa’s biggest energy producer caused by oil spills, theft and flooding.
Royal Dutch Shell lifted yesterday its force majeure on Nigeria’s benchmark Bonny Light crude oil exports, easing some of the supply concerns.
But three of Nigeria main oil grades; Qua Iboe, Brass River and Forcados are still under force majeure. These oil streams together account for around 700,000 barrels per day (bpd) or around a third of total Nigerian exports.
France’s Total and Italian oil firm Eni have also declared force majeure, on gas and oil supplies, respectively.
Nigeria is among the world’s top 10 crude oil exporters and usually ships around 2 million bpd, but a major fire caused by oil theft, Exxon’s spill and flooding have severely hit output.
Oil traders said that loading delays are worsening and are now up to two weeks for some cargoes.
Exxon’s Nigerian unit declared force majeure on Qua Iboe crude oil exports on Wednesday due to outages caused by a pipeline oil spill on November 9, which witnesses said had spread 20 miles down the coastline. “There are issues with two areas in a pipeline resulting in hydrocarbon release offshore,” an oil trader said.
Reuters
