Wednesday 25 May 2016

Agip halts oil production in Bayelsa

Eni, parent company of Nigerian Agip Oil Company (NAOC), has now joined Shell Petroleum and ExxonMobil in declaring force majeure on oil exports from the Brass Oil Export Terminal off Bayelsa shoreline.Agip logo
Eni said its production was cut by 4,200 barrels per day after Sunday’s attack on its pipeline in Bayelsa.
An attack in the area on May 18 had resulted to a shutdown of some 1,000 barrels bringing a cumulative production loss to 5,200 barrels of the oil firm’s share of oil output.

“I can confirm the attack to the Ogbaimbiri – Tebidaba pipeline, with 4,200 bp/d (Eni’s equity) of production affected,” . a spokesman for the company told the News Agency of Nigeria.
“I can confirm that Force Majeure has been placed on Brass Oil Exports from May 22, 2016.”
These attacks by militants are costing the company about 800,000 barrels of crude oil every day.

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