Nigeria: Shell extends force majeure on oil, gas

Shell Petroleum Development Company (SPDC) yesterday said it had extended its period of non-liability in honouring contractual obligations to its partners.

Called force majeure, the period of grace was occasioned by attacks and subsequent kidnap of oil workers by militants at the weekend.

Corporate Affairs Manager (External) of SPDC, Dr. Don Boham, in a statement explained that the oil company’s management had resolved to minimise the risk posed by militants and so, could not meet its obligations on the export of oil and gas from the EA and Forcados fields.

SPDC had earlier in January this year, declared force majeure on lifting of crude oil from its oilfields after a series of militant attacks but had to extend it yesterday after another attacks on its facilities at the weekend.

A force majeure is the inability of a company to honour its contractual agreement with its partners.

AND West Africa