Loading of Nigeria's Forcados crude oil has been brought to a halt by Shell
Loading of Nigeria's Forcados crude oil has been brought to a halt by Shell
According to a report from Reuters, Shell Petroleum Development Company (SPDC) has decided to suspend the loading of Nigeria's Forcados crude oil. This temporary suspension comes as a precautionary measure due to a suspected leak at the export terminal.
The company stated, "We can confirm that injections into the Forcados Oil Terminal were halted on Wednesday, July 12, 2023, upon the discovery of a sheen in the mooring vicinity."
As per the report, workers noticed the presence of a sheen near the single-buoy mooring facility on Wednesday, which led to the suspension of operations for investigative purposes.
In June 2023, the Forcados crude oil terminal recorded the highest crude oil output among the seven major crude terminals in Nigeria, according to data provided by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Since the start of the year, crude oil production at the Forcados terminal has fluctuated between 5 and 7 million barrels per day (bpd), experiencing minor declines in March and April 2023.
In May 2023, the Forcados terminal, located in Delta state, witnessed a boost in crude oil and condensate output to 7.01 million bpd, surpassing the 5.78 million bpd recorded in April 2023.
Data obtained from reports by the upstream regulator indicates that Nigeria's oil production reached 1.25 million bpd in June 2023. Additionally, there were 55,088 barrels of blended condensates and 176,030 barrels of unblended condensates produced during the same period.
During the specified period, the combined data for crude production amounted to 1.48 million barrels per day (mbpd). In the previous month, the Organization of Petroleum Exporting Countries (OPEC)-13 observed only a marginal decrease in oil output.
This reduction was primarily attributed to Nigeria and Iraq, which managed to mitigate the effects of output cuts implemented by other countries.
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