• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 20 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 12 days Does Toyota Know Something That We Don’t?
  • 22 hours World could get rid of Putin and Russia but nobody is bold enough
  • 20 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days Even Shell Agrees with Climate Change!
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Exxon Nigeria Terminal Under Siege, Exports in Question

Nigeria’s largest Exxon-run export terminal is reportedly under siege, as staff are blocked from access and conflicting reports emerge about whether the facility remains operational.

While Reuters has quoted Exxon as saying that the Qua Iboe terminal, which handles the largest crude stream in the country at 300,000 barrels per day, is still operating, earlier reports yesterday from Nigerian media had said a militant attack had forced the terminal’s shut down.

Early on Friday, Reuters cited ExxonMobil as saying that operations continued, though “intruders blocked staff from gaining access”.

Related: Iran Closes In On Saudis As Oil Exports Soar

"Some unknown persons obstructed access to the bridge leading to (the terminal), thereby preventing our personnel and the public from conducting their legitimate businesses," an Exxon spokesman told Reuters.

The situation on the ground remains unclear, and there is speculation that only essential staff remain in the facility.

On Thursday, Nigerian media were reporting that staff had been evacuated and the facility had been closed down. The speculation now is that the facility is not officially closed down, but the situation remains dynamic.

On 12 May, Exxon declared force majeure on Qua Iboe crude after an accident the company said was not related to militant attacks. The company said a subsea pipeline linking to Qua Iboe was damaged by a drilling rig.

Related: Oil Glut Set To Worsen As Libya Unblocks 300,000 Bpd Of Production

May should have seen some 337,000 barrels per day of Qua Iboe exported this month, according to Reuters.

Estimates are that the resurgence of Niger Delta militancy has taken 500,000 bpd offline, according to Reuters, while Bloomberg put that at 600,000 bpd.

Last week, Shell also declared force majeure on its exports of Bonny Light crude, evacuating staff from its Eja OML 79 production facility. Chevron has also evacuated staff as multiple attacks on its facilities in the Niger Delta.

ADVERTISEMENT

By James Burgess of Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News