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The OPEC Deal: Here Are The Details

The OPEC Deal: Here Are The Details

Oil prices continued to surge…

Eni Said to Lose Another 65,000 Bpd in Latest Niger Delta Attack

Nigeria Bayelsa Oil Spill

Attacks late last week in the Niger Delta have put an additional 65,000 barrels per day of oil offline from Italian Eni’s Agip Oil company, according to Nigerian media reports.

Last week’s militant attacks were the third targeting Agip since 18 May, and the 15th targeting oil installations in the Niger Delta since early February.

Eni lost 5,200 barrels per day of its share in Agip oil output in May.

Related: Niger Delta Avengers Threaten to Take Nigeria’s Oil Production To “Zero”

Aiteo Oil, which operates the Nembe Creek trunkline feeding crude oil to the Shell-owed Bonny export terminal has also been shut down since a 28 May attack, with the company telling Nigerian media that it has lost 75,000 barrels per day of production. Shell has claimed force majeure on the Bonny terminal.

Shell has also confirmed the reported attack late last week on its Forcados export pipeline, saying it had been forced to shut down crude exports here indefinitely, according to Nigeria’s Premium Times.

“The Shell Petroleum Development Company of Nigeria Limited, operator of the SPDC JV, has confirmed signs of a leak on the 48 inch Forcados export pipeline at a location between shoreline and the Forcados terminal in the western Niger Delta”, media quoted a Nigerian Shell spokesman as saying

Related: Does Iran Have The Upper Hand In OPEC Oil War

“We are currently focused on securing the pipeline to protect the environment. Given this latest incident and the wider security situation in the Niger Delta, we are unable to determine probable timing of resumption of exports from the Forcados terminal,” the spokesman said.

Claiming responsibility for attacks late last week, the Niger Delta Avengers (NDA) militant group said on its twitter feed: “This is in line with our promise to all international oil companies and indigenous oil companies that Nigeria oil production will be zero.”

By James Burgess of Oilprice.com

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