Oil exports resume at Shell terminal in Forcados oil terminal after a 10-week interruption amid Nigeria’s oil production slump
The resumption will definitely impact on the output of Nigeria’s oil production, offering a boost to the government amid tumbling crude production this year.
A spokesman for Shell’s Nigerian unit said in a statement last Friday that Nigeria produced a daily average of 1.14 million barrels of crude oil and condensate -– a light hydrocarbon –- in September, according to government data.
Much of the slump can be attributed to production of three major export grades -– Bonny, Brass and Forcados — that has shriveled to a trickle in recent months.
Also Read: Shell To Resume Crude Oil Exports At Forcados Terminal At October End
The Nigerian government insists that massive oil theft is barring the authorities from achieving set objectives in with regards to production outputs.
He said the oil theft vocation, which is currently being addressed, denies Nigeria over 400million barrels of crude oil every day.
The resumption of operations at the Forcados terminal and the 180,000 barrel per day Trans-Niger Pipeline will help add half a million barrels to daily output by the end of November, the Nigerian National Petroleum Co.’s chief executive, Mele Kyari, said in an interview earlier this month.
During the first half of the year, Nigeria produced about 230,000 barrels a day of Forcados grade oil, according to government data.
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