Nigerian Bonny oil exports hit again by force majeure

 Royal Dutch Shell said on Friday it had declared a force majeure on Nigerian Bonny Light crude oil, just a week after it was lifted, again highlighting the West African country's seemingly intractable problem of oil theft.

Petroleum Minister, Madueke

   "The Shell Petroleum Development Company of Nigeria Ltd (SPDC) has again raised alarm on the increasing trend of crude oil theft which has caused repeated closures of two key pipelines this year, resulting in deferment of up to 300,000 barrels of oil per day," the company said in a statement.
   Shell last Friday lifted a force majeure on Bonny Light which was declared after the shutdown of the 150,000 barrel per day Trans Niger pipeline.
    Africa's biggest oil exporter has been producing around 15 percent below its 2.5 million bpd (bpd) capacity this year due to widespread oil theft and leakages from ageing pipelines.
   The lower supply due to the problems affecting Bonny was a factor in pushing Nigerian crude oil differentials on the benchmark Qua Iboe grade to their highest in over two years last month, though they have since started to retreat.