Shell: Nigeria shutdown starts to add up

By Nizar Manek, 12 March 2013
(Financial Times) --
Shell’s Nigerian subsidiary is losing over $33m a week since it shut one of its two major pipelines and said it would not be able to fulfill key contracts. The oil giant has blamed vandals for the disruption.
Shell Petroleum Development Company is likely to lose more: it cannot yet give a date when it will lift the force majeure (which allows it to break contracts due to situations beyond its control) from its Nembe Creek Trunkline. The company is due this month to export 168,000 barrels per day of Bonny Light, the grade of crude transported by the inoperative pipeline.
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