By Udeme Akpan
THERE are indications that Nigeria’s crude oil export to the global market increased by 1.9 per cent in July 2018.

The development occurred as a result of the lifting of force majeure on Bonny Light export by Shell Petroleum Development Company, SPDC.

According to Bloomberg, the total exports grew to 1.64 million barrels per day (b/d) last month from the 1.61 million b/d recorded the previous month.

It stated that on July 14, 2018, barely two months after declaring force majeure on the Bonny Light Export, SPDC announced the lifting of the force majeure, indicating resumption of normal loading activities from its Bonny terminal in Rivers State.

Bloomberg stated that SPDC had declared the force majeure on May 17, 2018, following the shutdown of the Nembe Creek Trunkline (NCTL) by the operator, Aiteo Eastern E&P Company Limited.

It indicated that Aiteo also declared force majeure on the NCTL production which necessitated the subsequent action by SPDC on Bonny Light exports, stressing, “NCTL is one of the two major production lines feeding the Bonny Terminal, the other being the SPDC-operated Trans Niger Pipeline (TNP).