Italian Oil Giant Eni Lift Force Majeure On Brass Crude Exports

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Italian oil giant, Eni has lifted a force majeure on exports of Nigeria’s Brass River crude oil.

Eni did not respond to a request for comment on the issue but traders said on Tuesday that the force majeure was lifted few days after it was declared.

The company made the declaration late last week after a fire on a pipeline. Exports of 117,000 barrels per day were scheduled for May, and sources said the June loading programme would be issued later this week.

In the same vein, exports of Nigeria’s largest crude oil stream, Qua Iboe, are expected to rise to 317,000 barrels per day (bpd) in June, traders said on Tuesday, above the revised 306,000 per day for May.

Nigeria lowered its Official Selling Price for Bonny Light for May to 2 cents per barrel and for Qua Iboe to 39 cents per barrel.

Shell said theft from the pipeline network of its Nigerian subsidiary fell to 25,000 barrels per day (bpd) in 2015, roughly 32 percent less than the previous year.

Still, Niger Delta Avengers, the group which claimed responsibility for the attack on Shell’s Forcados subsea pipeline, said it will carry out more strikes.

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