With the declaration of force majeure on Bonny Light exports by Shell Petroleum Development Company of Nigeria Limited, about 400,000 barrels per day of Nigeria’s production has now been shut in. Force majeure is a legal clause that allows an oil firm to stop shipments without breaching contracts.
The oil major said in a statement signed by its spokesperson, Mr. Bamidele Odugbesan, on Wednesday that the force majeure took effect from Tuesday, May 10, 2016.
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