UPDATE 1-Shell lifts force majeure on Forcados oil exports

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LONDON, May 15 (Reuters) - Royal Dutch Shell saidon Thursday it had lifted the force majeure on the Forcados grade of crude oil that it declared in March after aleak was found in a subsea pipeline.

Shell discovered the leak on March 4 and declared forcemajeure on March 25, a statement on the company's Nigerianwebsite said.

Exports of the grade, which typically amount to around180,000 barrels per day, fell close to zero for May loading withflows halted by pipeline repairs.

However, exports had recovered to close to normal levels forJune loading cargoes according to the monthly loading programme.

Nigerian oil is subject to serious problems with oil theft, which diverts millions of barrels of oil per year, severelydenting government revenues. (Reporting by Bangalore Commodities Desk and Simon Falush,editing by David Evans)