Shell Logo-Image by Alexandr Blinov / Adob eStock
SPDC, a Nigerian subsidiary of Royal Dutch Shell, has declared unavoidable exports of Nigerian Volcados crude oil after a dysfunctional barge obstructed the course of tankers, the company said in a statement.
The action came into effect at 12:00 noon on Monday, and Nigeria’s Shell Sekiyu Development Company said efforts are underway to restore access, according to a statement from SPDC that Reuters saw Wednesday.
Nigeria depends on oil exports for about 90% of its foreign exchange and more than half of its budget.
(Report by Fikayo Owoeye, edited by MacDonald Dzirutwe and Andrea Ricci)
https://www.oedigital.com/news/493069-shell-declares-force-majeure-on-nigerian-forcados-crude Shell declares irresistible power to Nigerian Volcados