WED. 15 MARCH 2023-theGBJournal | The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC joint venture, has lifted the force majeure on Bonny export programme with effect from Wednesday, March 15, 2023, a Spokesperson for SPDC tells theG&BJournal.
The force majeure was declared on March 3, 2022 following a significant decline in crude receipts at the Bonny Oil and Gas Terminal.
The development, experts say, will shore up the already rising aggregate crude oil production.
Earlier in this month, Nigerian Upstream Regulatory Commission (NUPRC), reported that aggregate crude oil production (including condensates) increased for the second consecutive month, rising by 3.6% m/m to 1.55mb/d in February (January 2023: 1.49mb/d) – the highest level since January 2022 (1.68mb/d).
Interestingly, the Bonny (+25.3% m/m) and Brass (+25.5% m/m) oil terminals primarily drove the increase.
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