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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (53092)	10/15/1999 4:41:00 PM
From: oilbabe	Respond to of 95453

Shell May Halt Some Nigeria Crude Oil Exports, Ship Brokers Say New York, Oct. 15 (Bloomberg) -- Royal Dutch/Shell Group, Nigeria's largest oil producer, is telling customers it may be forced to reduce crude oil exports because of civil unrest, according to ship brokers in the region. The unrest around the Forcados terminal may stop shipments from today through mid-November, according to Hull Blythe & Co. and Elder Dempster Agencies (Nigeria) Ltd., which have agents in the country. Shell declared force majeure, a clause excusing it from contractual obligations because of circumstances beyond its control, the brokers said. Shell couldn't be reached for comment. Hull Blythe said that customers should expect delays in loading. Shell's joint venture operations at Forcados normally export 400,000 barrels of oil a day. Shell also produces similar amounts of oil in other parts of the country. Nigeria produced 1.9 million barrels of oil a day in September. Some grades, such as Bonny Light, are highly prized because they produce a large proportion of gasoline when refined. Nigerian production by Chevron Corp. will be boosted by the weekend, after the company said it had restored five pumping stations in the Niger Delta. Those pumping stations produce 100,000 barrels a day, Chevron said.