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Shell says its Nigerian oil outage unchanged

Reuters: Shell says its Nigerian oil outage unchanged

Tue Apr 22, 2008 10:35am EDT

LONDON, April 22 (Reuters) – Royal Dutch Shell (RDSa.L: Quote, Profile, Research) said on Tuesday it stands by 169,000 barrels per day as its most recent production outage in Nigeria after the West African country’s oil minister said the figure was too big.

A Shell spokesman said: “That is the official figure. There is no change and the same force majeure is still in place.”

Earlier on Tuesday, Nigerian Minister of State for Oil, Odein Ajumogobia, said in Rome the latest, more accurate figures for production outage he had accounted for was around 25,000-30,000 bpd, which could be brought back quickly.

Rebels in Nigeria have attacked Shell’s oil facilities twice since last week.

The earlier attack last week forced the Anglo-Dutch major to declare force majeure on Bonny Light exports for the rest of the April and May.

The spokesman said so far only Bonny Light output had been affected by last week’s attack and he was unaware of potential impact on other grades from the second attack on Monday.

The force majeure is likely to take out about 8 percent of Nigeira’s most recent oil production of 2 million bpd.

It will reduce the exports of high quality, light-sweet Bonny Light crude in May.

Preliminary loading programmes showed last month 10 Bonny Light cargoes, or about 306,000 bpd, was to be exported in May.

The revisions for the May programmes or June loading schedule have not been available, traders said. (Reporting by Ikuko Kao; editing by James Jukwey) ([email protected]; +44(0)20 7542 8145; Reuters Messaging: [email protected]))

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