Wednesday, 12 December 2012

Mobil Lifts Force Majeure on Qua Iboe Oil Exports

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.

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