real-time news and commentary for investors
Monday, Sep 16
Shell reopens 150K bbl/day Trans Niger pipeline
- Royal Dutch Shell (RDS.A, RDS.B) has reopened its 150K bbl/day Trans Niger pipeline in Nigeria which had been shut for nearly two months; however, the force majeure declares in April on Nigeria's benchmark Bonny Light crude oil grade remains in place.
- Shell shut in the Trans Niger in July following a leak on the Bomu-Bonny section at Owokiri, which was caused by a six-inch crude theft valve being placed on the line.
- Shell had estimated the total daily loss from the shutdown at ~$15M.