EVENT ONGOING
Event: Pipeline Outages
Date and Time: As of 1200hrs UTC 21st May
Location: Nigeria
Description: Trans Forcados Pipeline has been shut for about a week and a half due to a possible leak which resulted in loss of approximately 240,000 barrels of crude per day. Force Majeure has
not been declared by the operators of the pipeline, Heritage Oil. Repairs are ongoing.
Shell Petroleum Development Company of Nigeria has declared Force Majeure on exports of Bonny Light Crude, due to a shutdown of the Nembe Creek Trunk Line by the operator, Aiteo Eastern E&P Company.
It has been estimated that Nigeria is losing approximately US$13 million per day due to the suspension of operations.
ARC will update should more information be received.
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