The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Two Nigerian oil pipelines shut down due to leaks

Tue, 20th Jan 2015 17:32

(Adds details on Forcados, Nembe Creek and section of TransEscravos shut down, no immediate comment from Seplat)

By Julia Payne and Libby George

ABUJA/LONDON, Jan 20 (Reuters) - Nigeria's Trans Forcadosoil and gas pipeline and related production as well as Shell'sNembe Creek line, carrying Bonny Light crude, were shut at theweekend, the ministry of power and Shell said in separatestatements on Tuesday.

The 150,000 barrel per day (bpd) Nembe line was shut on Jan.17 after a leak was found, which is still being investigated, aspokeswoman for Shell said. A section of the TransEscravos pipeline was also closed on Jan. 14 for works and toremove crude theft connections.

The pipelines are operated by Shell's Nigerian joint ventureSPDC. Traders said it was too early to tell whether the shutdowns would impact exports. Bonny Light exports were scheduledat 185,000 bpd in January and 170,000 in February. The grade isalso transported via the Trans Niger Pipeline.

A spokeswoman for Shell said there was no impact on BonnyLight exports at present.

Nigeria's power ministry said the Forcados pipeline wasclosed after a leak occurred at the Oteghele axis in thesouthern state of Bayelsa and there was no timeframe yet for theduration of the disruption.

"The minister of power ... has appealed for theunderstanding of electricity consumers, for the reduction inpower supply which this development may cause," the statementsaid.

The affected section of the Forcados pipeline is run bystate-owned Nigerian Petroleum Development Corporation, asubsidiary of the Nigerian National Petroleum Corporation. AnNNPC spokesman did not respond to a request for comment.

A spokesman for SPDC in Lagos said its production is linkedlower down the pipe and was not affected. Nigeria's SeplatPetroleum, which produces around 60,000 bpd andexports crude via the Forcados pipeline, declined to commentimmediately but said it would issue a statement later.

Two other incidents of vandalism occurred in early Januaryaffecting the 24-inch and 28-inch sections of the pipeline. Thedamage took about a week each time to repair before the pipelinewas back in use, the power ministry said.

The pipeline transports the Forcados crude oil grade. About260,000 bpd were scheduled to be exported in January and 210,000bpd in February.

"(The shutdown) takes some cargoes out of the market, but wealready had 10 days delay in Forcados," a trader said, addingthat two January cargoes had already been deferred to Februarywith a knock-on effect into March.

"This may cause further delays" he said, which would supportthe prices of other Nigerian grades. (Additional reporting by Camillus Eboh; editing by Tim Cocksand David Evans)

More News
20 Jan 2022 12:01

LONDON MARKET MIDDAY: FTSE 100 stalls as AB Foods drags on index

LONDON MARKET MIDDAY: FTSE 100 stalls as AB Foods drags on index

Read more
20 Jan 2022 09:54

UPDATE 2-Oil stocks, GSK weakness pull FTSE 100 lower; Deliveroo jumps

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deliveroo fourth-quarter order growth jumps* Premier Foods top midcap gainer on strong profit outlook* Unilever abandons plan to buy GSK's ...

Read more
19 Jan 2022 21:37

Shell to carry out Pernis, Netherlands oil refinery maintenance until end of June

AMSTERDAM, Jan 19 (Reuters) - Royal Dutch Shell said on Wednesday it plans to carry out major maintenance work at its Pernis oil refinery in the Netherlands in the coming five months."We will inspect a large number of installations from the insid...

Read more
19 Jan 2022 08:56

LONDON MARKET OPEN: FTSE 100 steady despite UK inflation intensifying

LONDON MARKET OPEN: FTSE 100 steady despite UK inflation intensifying

Read more
18 Jan 2022 17:05

LONDON MARKET CLOSE: Stocks fall on worries over higher interest rates

LONDON MARKET CLOSE: Stocks fall on worries over higher interest rates

Read more
18 Jan 2022 13:08

UPDATE 1-Norway awards 53 new petroleum production licences

(Adds detail, quotes)OSLO, Jan 18 (Reuters) - Norway awarded 53 new petroleum production licences on the Norwegian continental shelf in the latest licensing round for mature areas, the oil and energy ministry said on Tuesday.Stakes were offered to...

Read more
18 Jan 2022 13:00

Angry investors seek to appoint board member to Third Point UK fund

LONDON, Jan 18 (Reuters) - Activist investors in Third Point's London-listed fund want independent director Richard Boleat appointed to the board to improve corporate governance, they said in a letter to shareholders on Tuesday.Third Point Investo...

Read more
18 Jan 2022 12:51

UPDATE 2-Climate activists lose court case against UK oil regulator

(Adds reaction from government minister)By Shadia NasrallaLONDON, Jan 18 (Reuters) - A UK High Court on Tuesday threw out a case brought by climate activists against the country's oil and gas regulator OGA, rejecting their argument that the OGA's ...

Read more
18 Jan 2022 12:51

UPDATE 1-Climate activists lose court case against UK oil regulator

(Add climate activists' response)By Shadia NasrallaLONDON, Jan 18 (Reuters) - A UK High Court on Tuesday threw out a case brought by climate activists against the country's oil and gas regulator OGA, rejecting their argument that the OGA's actions...

Read more
18 Jan 2022 12:14

LONDON MARKET MIDDAY: Markets red as inflation worries return to fore

LONDON MARKET MIDDAY: Markets red as inflation worries return to fore

Read more
18 Jan 2022 09:44

LONDON BROKER RATINGS: Goldman Sachs raises BT to Conviction Buy

LONDON BROKER RATINGS: Goldman Sachs raises BT to Conviction Buy

Read more
18 Jan 2022 09:03

LONDON MARKET OPEN: FTSE 100 slips despite oil boosting BP and Shell

LONDON MARKET OPEN: FTSE 100 slips despite oil boosting BP and Shell

Read more
17 Jan 2022 10:33

UPDATE 2-Oil majors, Iberdrola among winners set to harness Scottish wind

(Updates throughout)By Nina ChestneyLONDON, Jan 17 (Reuters) - Utility Iberdrola and oil majors BP and Shell are among companies offered seabed rights to develop offshore wind projects in the first tender of its kind in over a decade, Crown Estate...

Read more
17 Jan 2022 10:33

UPDATE 3-Scottish wind sale nets nearly $1 billion with Shell, BP among winners

(Adds comment from Shell, BP, analysts)By Nina ChestneyLONDON, Jan 17 (Reuters) - BP, Shell and utility Iberdrola were among the winners of seabed rights to develop Scottish offshore wind projects, in an auction which raised nearly 700 million pou...

Read more
17 Jan 2022 10:33

UPDATE 1-Crown Estate Scotland offers 17 projects seabed rights for offshore wind

(Adds more detail)By Nina ChestneyLONDON, Jan 17 (Reuters) - Crown Estate Scotland said on Monday it has offered seabed right agreements to 17 projects in its ScotWind leasing round which is aimed at supporting wind energy development.Out of 74 ap...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.