Friday, November 30, 2012 10:39 am
Shell restores Forcados export levels from Nigeria
The Associated Press
Spokesman Precious Okolobo said Friday that Shell's Nigerian subsidiary lifted a "force majeure" warning on its Forcados crude shipments Thursday. The term is used when an oil company cannot cover the promised supply from the field.
Shell declared the production warning on Oct. 19 after oil thieves damaged a pipeline, Okolobo said.
The oil major lifted a production warning last week on Bonny Light crude. It said oil theft was also partly to blame for slowed down Bonny Light production.
A 2009 government-sponsored amnesty program reduced militant attacks on oil facilities, but oil theft has since increased.
Nigeria is a top supplier of crude to the U.S.