Royal Dutch Shell PLC Declares Force Majeure On Nigerian Bonny Light Crude Oil Exports-DJ

Thursday, 18 Apr 2013 12:59am EDT 

Dow Jones reported that Royal Dutch Shell PLC has declared force majeure on Nigerian Bonny Light crude oil exports after shutting down the 150,000 barrel per day Nembe Creek pipeline for repairs. The Company replaced the Nembe trunkline in 2010 at a cost of USD 1.1 billion but it has since been regularly targeted by thieves who break into the pipeline and siphon off oil. 

Company Quote

-12.5 -0.54%
11:39am EDT