for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

UPDATE 2-Shell ends force majeure on Nigeria Bonga exports

(Adds Bonny Light)

LAGOS, July 9 (Reuters) - Royal Dutch Shell RDSa.L lifted force majeure on oil exports from its Bonga offshore field in Nigeria on Wednesday, three weeks after an attack by militants forced it to shut the facility for several days.

“We lifted force majeure at Bonga at 12 noon local time (1100 GMT),” said Precious Okolobo, a spokesman for Shell in Nigeria. He declined to give any further details.

Shell declared force majeure, which frees the company from contractual obligations, on Bonga shipments for June and July on June 20, a day after the facility with a nameplate capacity of 220,000 barrels per day was attacked.

The Anglo-Dutch giant said on June 24 that it had restarted production at Bonga, which lies some 120 km (75 miles) off Nigeria’s coast, but declined to say whether it had resumed at full capacity.

A Shell spokesman in the Hague said a force majeure on Bonny Light, another Nigerian light, sweet crude, was still in place.

The force majeure on Bonny Light was declared in April following sabotage attacks to Shell’s oil facilities. (Reporting by Nick Tattersall, additional reporting by Ikuko Kao; editing by James Jukwey)

Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.


Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up