Nigeria’s oil exports threatened as Aiteo declares force majeure - PUNCH
BY ’Femi Asu
The nation’s crude oil exports have suffered a setback as Aiteo Eastern Exploration and Production Company Limited declared force majeure on Nembe Creek Trunk Line following a fire outbreak.
The NCTL, a major crude oil transportation channel used for export, evacuates crude to the Bonny Crude Oil Terminal. It is 100 kilometres long and has a capacity of 150,000 barrels per day at Nembe Creek.
Force majeure is a legal clause that allows companies to cancel or delay agreed deliveries due to unforeseen circumstances.
Aiteo, in a statement on Sunday, said, “We have been informed of a fire outbreak by our surveillance team comprising the JTF, FSS around NCTL Right of Way near Awoba today, April 21, 2019.
“Our Operations Emergency Response team was immediately activated and following its urgent intervention and containment action, we are constrained to shut in injection as well as other related operations into the NCTL. In accordance with standard procedure, we requested the other injectors to do the same.”