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Home Business News

A Major Nigerian Crude Oil Pipeline Has Been Shut!!

Nairametrics by Nairametrics
June 9, 2016
in Business News, Spotlight
A Major Nigerian Crude Oil Pipeline Has Been Shut!!
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Nigeria’s Trans Niger Pipeline, one of two major pipelines that carries the Bonny Light crude grade for export, was shut down on Wednesday after a leak was found, according to Reuters.

Shell is said to have confirmed that the pipeline had shut down due to a leak but declined to comment further.

The shutdown comes just as repairs were completed on the Nembe Creek Trunk Line that also moves the major export grade. Force majeure was declared by Royal Dutch Shell on Bonny Light exports after the NCTL was closed in early May.

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One source referring to a memo sent out to participants in the TNP said that it was expected to be down for at least a week and would see around 130,000 barrels per day of production shutdown.

Source: Reuters

 


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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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