Mobil Producing Nigeria has lifted its force majeure
on Qua Iboe crude exports. The oil giant, on November 20, declared the force
majeure on oil exports attributing it to the difficulty in meeting projected
oil lifting, due to the repair work on a section of its pipeline affected in
the November 9 oil release offshore Akwa Ibom.
The force majeure is a legal step that protects a
company from liability when it cannot fulfill a contract for reasons beyond its
control.
The US oil major operates two offshore oil blocks
and a 960, 000 barrels per day crude export terminal, off the Akwa Ibom
coastline. The company had shut down the affected facility to prevent damage to
the environment.
No comments:
Post a Comment