LAGOS, Dec 22 (Reuters) - Royal Dutch Shell's
Nigerian subsidiary SPDC has declared force majeure on exports
of Nigerian Forcados crude oil after the obstruction of a tanker
path by a malfunctioning barge, the company said in a statement.
The action came into effect on Monday at 12:00 midday and
Shell Petroleum Development Company of Nigeria Limited said that
efforts were underway to restore access, according to an SPDC
statement seen by Reuters on Wednesday.
Nigeria relies on oil exports for some 90% of its foreign
exchange and more than half its budget.
(Reporting by Fikayo Owoeye, Editing by MacDonald Dzirutwe and
Andrea Ricci)