News
Shell Resumes Bonny Light Export
Barely one month after suspension of crude oil export from the Bonny Crude Oil Export Terminal, in Rivers State, the Shell Petroleum Development Company of Nigeria (SPDC), has lifted the force majeure on Bonny Light, thus signalling the official export of the crude oil grade from Nigeria.
The force majeure was placed to protect the company against any liability from importers in different parts of the world after the destruction of its Nembe Creek Trunk pipeline.
An indigenous oil and gas company that handled the rehabilitation of the pipeline, Aiteo, confirmed that work had been completed to pave way for resumption of export.
In a statement, SPDC explained that the force majeure was declared September 16, 2017, on Bonny Light crude, due to issues affecting one of the two main pipelines taking Bonny Light grade to the export terminal.
Bonny Light has seen its production affected by declarations of force majeure at different points throughout last year.
It recently came out of a month-long force majeure on August 14, due to issues over a leak on the Nembe Creek Trunk pipeline.
Bonny Light, light sweet crude with a gravity of 35.3 API and a sulphur content of 0.15 per cent, saw three force majeure declarations in 2016 due to pipeline leaks caused by militant attacks.
This year, force majeure has previously been declared in June for several days, and over July-August.
Bonny Light’s production has averaged 5.545 million barrels over the last 12 months.
The crude is produced on Bonny Island, Rivers State, onshore at the eastern edge of the Niger Delta.
Other grades of Nigerian crude oil are Qua Iboe crude oil, Brass River crude oil, and Forcados crude oil.
The Cabinda crude oil is a common grade of crude oil produced in Angola.
The Bonny Light is in high demand specifically by American and European refineries.
It is, therefore, a major source of income for the oil-rich nation.
The price of Brent stood at $57.88 while the price of WTI stood at $51.88 in the global market, as trading closed, last Friday.
According to OPEC, “The organisation basket of fourteen crudes stood at $56.12 a barrel on Wednesday, compared with $55.83 the previous day.
News
198 UNIBEN Students Bag First Class
News
Bayelsa Education Fund, British Council trains tra 1,000 teachers
News
RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
-
Sports4 days agoBarca Impress On Return To Camp Nou
-
Sports4 days agoSunderland Fall At Fulham
-
Sports4 days agoBundesliga: Oliseh Stars As Bayern Rebound To Thrash Freiburg
-
Sports4 days agoForest Embarrass Liverpool At Anfield
-
Niger Delta4 days agoTraditional Ruler Seeks End To Benin Artifacts Unauthorized Promotion
-
Sports4 days agoOgoni Nation Cup: Victory Against Amee Base Excites Coach
-
Maritime4 days agoNSC Decries Police Interferences With Cargoes At Seaports
-
Politics4 days agoCleric Tasks APC On Internal Stability, Warns Otti
