Nigeria’s oil production rebounds as Shell lifts force majeure on Bonny Light exports

Nigeria’s hope of improved production may have been re-ignited as a result of the lifting of force majeure on crude exports by Shell Petroleum Development Company of Nigeria (SPDC) from Bonny Light terminal following repairs to a leaking pipeline.

Operational issues have hampered Nigeria’s crude production throughout the second half of this year, with disruption at several other terminals, including Qua Iboe, Forcados, Erha and Brass River.

Nigeria’s production in the last few months has been below budgetary benchmark, dropping to 1.37 million barrels a day in October, 261,000 bpd below its OPEC+ quota.