Free Trial

Force Majeure Lifted at Nigeria Oil Export Terminals

OIL

ExxonMobil has lifted a force majeure at multiple oil export terminals in southern Nigeria after workers called off their industrial action according to the Nigerian National Petroleum Corp.

  • The resolution should free up crude and condensate exports of approximately 300kb/d to help Nigeria output reach 1.8mb/d by the end of 2023.
  • The crude loadings at four export terminals Erha, Qua Iboe, Usan and Yoho halted on 17 April due to strike action.
  • Earlier this week Bloomberg reported that three crude oil tankers had been waiting offshore Nigeria as long as 12 days due to the force majeure.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.