By Eyo Nsima
Shell Petroleum Development Company, SPDC, has resumed oil export at the Bonny Oil and Gas Terminal in Rivers state.
The terminal was shut down due to increased pipeline vandalism, oil theft, and illegal refining in the area.
However, in a statement obtained by The Daily, https://thedaily-ng.com, the company disclosed that, “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from Wednesday, March 15, 2023.
“The force majeure was declared on March 3, 2022, following a significant decline in crude receipts at the Bonny Oil and Gas Terminal.”
Meanwhile, Nigeria’s oil production rose month-on-month, MoM by 3.8 per cent to 1.306 million barrels per day, bpd in February 2023, from 1.258 million bpd recorded in the preceding month of January 2023.
The Organization of Petroleum Exporting Countries, OPEC disclosed this in its March 2023 Monthly Oil Market Report, MOMR obtained by Vanguard, noting that this was based on data obtained from direct communication or sources.
