Shell Declares Force Majeure As Nigeria Oil Theft Surges

摘要

Royal Dutch Shell declared force majeure on Nigeria’s Bonny Light crude stream again on Tuesday, after closing the Nembe Creek Trunkline (NTCL) to repair damage caused by rocketing theft levels. The closure will defer around 150,000 barrels per day -- the estimated throughput before shutdown, a Shell source confirmed. The closure, and the statement that preceded it, underscores the supermajor’s growing exasperation at the failure of President Goodluck Jonathan’s government to tackle theft decisively (IOD Mar.29’12). Over the weekend Shell’s top Nigerian executive Mutiu Sunmonu threatened to shut the trunk line -- which runs from Nembe Creek to Bonny Island -- completely, if current theft levels persist.