Friday, February 08, 2008

Oil: Shell to cut key Nigerian oil terminal

Royal Dutch Shell has announced one of its key oil terminals in Nigeria cannot honor its export contracts due to security problems.

The company issued a statement saying security concerns have prevented workers from repairing pipeline leaks at the Bonny terminal in Nigeria. The company says it will not be able to meet orders for 130,000 barrels of light crude oil per day through March.