- Exxon Mobil (XOM -1.4%) says it has lifted a force majeure on Nigeria's Qua Iboe crude oil export terminal that had been in place since mid-December because of a fire.
- Production started to ramp up to normal levels of 200K bbl/day in the past week, with the release of both the February and March loading programs, S&P Global Platts reports.
- Qua Iboe is Exxon's biggest crude oil stream in Nigeria and one of the country's largest export grades.
- Qua Iboe prices have been weakened as a result of the disruption, with the grade last assessed at a discount to Dated Brent of $0.50/bbl vs. a premium against the benchmark in December.
- "Not only will [Exxon] not cut the dividend, but the company will maintain its status as a dividend aristocrat," Retirement Pot writes in a bullish analysis posted recently on Seeking Alpha.