Shell's (RDS.A +0.5%) Nigerian unit shut its Bonny oil pipeline and deferred 150K bbl/day of...

|By:, SA News Editor

Shell's (RDS.A +0.5%) Nigerian unit shut its Bonny oil pipeline and deferred 150K bbl/day of production due to a large fire caused by a burning vessel which allegedly was involved in stealing crude oil from the pipeline. Bonny Light is Nigeria's benchmark crude, used to price other grades of oil, and makes up ~10% of the total oil exported out of Africa's biggest producer.