Royal Dutch Shell, on Monday, announced the re-opening of its Trans Niger Pipeline, or TNP, which carries Bonny Light crude oil to the export terminal.
This pipeline had been out of operation since November, 2015.
The pipeline remained closed while the company investigated another incident on Nov. 22. where unfortunately, four contractors lost their lives during an operation to remove crude oil theft points.
The inferno was suspected to have been caused by pipeline vandals.
Traders commented that the implication of the closure had led to crude loading delays of up to 10 days.
According to Shell, Nigeria had suffered a decline of 150,000 barrels of crude oil output and lost about $14.73 million daily as a result of the Trans Niger Pipeline (TNP) closure.
Curated from Reuters