15 oil vessels wait to discharge at Lagos ports

Fifteen ships are waiting to discharge petroleum products at the various oil terminals within the Lagos ports, the Nigerian Ports Authority (NPA) has said. The “Shipping Position’’, a daily publication of the NPA made available to newsmen on Friday, reported that eight of the ships were laden with petrol. Five of the ships will discharge […]

Pipeline leak: Shell shuts down Gbaran Ubie, Soku gas facility

By Elisha Bala-Gbogbo Nigeria LNG Ltd., Africa’s largest liquefied natural gas export terminal, said it declared force majeure on exports following a Royal Dutch Shell Plc (RDSA) halt on deliveries after discovering a supply pipeline leak. Force majeure, a legal step that protects a company from liability when it can’t fulfill a contract for reasons […]

China reduces demand for crude oil

West Texas Intermediate oil fell for a third day as China’s crude processing reached the lowest level in eight months in April and OPEC boosted output. Prices dropped as much as 1.4 percent as refining in China decreased to 9.36 million barrels a day, according to data published today on the website of