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Shell, Exxon Mobil adjust Nigeria export forecasts

Wednesday - 11/21/2012, 9:47am  ET

LAGOS, Nigeria (AP) -- Royal Dutch Shell PLC says it has lifted a month-long production warning on Bonny Light crude exports from Nigeria. Meanwhile, Exxon Mobil Corp. says it cannot meet forecasts for another grade of crude from the West African nation.

Shell spokesman Precious Okolobo said Wednesday that Shell's Nigerian subsidiary lifted a "force majeure" warning on its Bonny Light crude shipments. The term is used when an oil company cannot cover the promised supply from the field.

Shell declared force majeure on Oct. 19 due to attacks on its Trans-Niger pipeline and flooding.

Meanwhile, Exxon Mobil said in a statement Wednesday that it is declaring a force majeure on Qua Iboe crude because of ongoing repair work on a pipeline.

Nigeria is a top supplier of crude to the U.S.


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