• Nigeria loses 79m barrels of crude to vandalism

    Nigeria loses 79m barrels of crude to vandalism

    The attacks on Forcados export line by militants in the Niger Delta have left a total of 79 million barrels of crude oil shut in since February, causing oil firms and the nation a huge loss of revenue.

    The Forcados export terminal was shut down after Shell Petroleum Development Company of Nigeria Limited declared force majeure – a legal clause that allows it to stop shipments without breaching contracts – on February 21.

    Militants had a week earlier blown up a pipeline […]