Oil Giant Shell has declared a force majeure on its Bonny Light Crude oil lifting facility due to what it called a “leak”. Shell made this announcement on Friday and blamed this was due “to shut down of the Nembe Creek Trunk Line (NCTL) by the pipeline operator, Aiteo, following a leak”.
The statement did not confirm if the pipeline leak was due to the activities of the Niger Delta Militants and did not reveal how soon the leak will be fixed.
This makes it the fourth export terminals that is under a force majeure further worsening the Government’s financial situation. The other four export streams that are said to be out are as follows;
- Qua Iboe
- Brass River
- Bonny Light
The NNPC released its 2016 June financial report last week revealing that it posted a loss of about N26.5 billion. Revenue was N118.3 billion. Year to date, June 2016 the NNPC has recorded a revenue of about N706.8 billion. Losses for the year to date was N2.3 billion. A total of 761,384,627 barrels of crude has been lifted for the year.
According to reports, pipeline attacks from the Niger Delta Militants have cost Nigeria about 700,000 bpd in oil production.