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Shell lifts Forcados force majeure, bringing Nigerian oil near capacity

Published 06/07/2017, 07:45 AM
© Reuters.  Shell lifts Forcados force majeure, bringing Nigerian oil near capacity
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  • Royal Dutch Shell (LON:RDSa) (RDS.A, RDS.B) says it has lifted force majeure on exports of Nigeria's Forcados crude oil, bringing all of the country's oil exports fully online for the first time since February 2016.
  • The resumption of Forcados, which typically exports 200K-240K bbl/day, brings Nigeria near the 1.8M bbl/day level the government said it wanted to achieve before joining OPEC output cuts, from which it (along with Libya) is exempt; shipments this month are expected to average ~250K bbl/day.
  • ETFs: USO, OIL, UWT, UCO, DWT, SCO, BNO, DBO, DTO, USL, DNO, OLO, SZO, OLEM
  • Now read: Royal Dutch Shell (RDS.A) Investor Presentation - Slideshow


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