SHELL REOPENS FORCADOS TERMINAL FOR CRUDE EXPORT
source: http://www.eyesoflagos.com/2017/06/shell-reopens-forcados-terminal-for.html


The Shell Petroleum Development Company of Nigeria Ltd (SPDC) operator of the Shell/NNPC Joint Venture on Tuesday lifted the 17 months force majeure placed on Forcados Export Terminal following the completion of repairs of the leaks on the Trans Forcados Pipeline (TFP) that has affected crude receipts into Forcados Terminal.
The spokesperson of Shell Nigeria, Bamidele Odugbesan who confirmed the development to EYES OF LAGOS in a telephone chat said the force majeure was lifted effective 16.00hour (4.00pm local time) on Tuesday, June 6, 2017.
He commended the government and securities agencies for their supports in ensuring the repairs of the pipelines stressing that the reopening of the crude export terminal will further improve the prospect of meeting the 2.2 million barrel per day (bpd) export target of the government.
According to Bloomberg’s loading program, Nigeria’s crude shipment this month is expected to average about 250,000 bpd, adding that the extra flows amount to about 20 per cent of the supply OPEC has pledged to cut from world markets.
Meanwhile, Seplat Plc has applauded the development stating that since reception injection of oil and condensate gas into the Forcados system, it has been able to reinstate gross production at OMLs 4, 38 and 41 to pre – force majeure level of about 75,000 bpd and 290mn cubic feet per day or 125, 000 barrels of oil equivalent per day gross (56,000boe/d net to Seplat’s 45 per cent interest).
In contrasts to the company’s first quarter 2017 production report it submitted to the Nigerian Stock Exchange (NSE) in April of 7,721bpd only plus 211mn cubic feet per day.
Speaking on the development, Seplat’s CEO, Austin Avuru said, “The resumption of export at the Forcados terminal has enabled us to very quickly de-constrain production, and in doing so once again demonstrate Seplat’s strong underlying fundamentals.”
Similarly, the Nigerian Petroleum Development Company (NPDC), a subsidiary of the NNPC is expected to benefit from the lifting of the force majeure as the uses the pipeline to transport around 11,000 barrel per day of crude and 6.5 million cubic feet of gas per day for export.
Meanwhile, it will be recalled that OPEC had on May 25 said it will keep its collective output restricted by 1.2 MMbpd until the end of the first quarter next year. Nigeria and Libya which were both exempted from the curbs because of domestic conflicts has in recent time increased their supply.

good news

good news



SPDC really tried, they were paying salaries even though they weren't producing

hopefully things will come back to normalcy

Hmm

That is the power of dialogue.


All thanks to God, and Prof Yemi Osibanjo

I guess they need to resume bleeding the oil and export enough before Nigeria finally breaks up. oil is the reason everyone is fighting for Nigeria to be one

THE OIL IN BAYELSA RIGHTFULLY BELONGS TO THE NORTH, SAI ONE nijeria walahi

great news

So Forcados Is A Thing

Jamb Wasn't Playing With Our Brains Afterall

Will it bring down the price of dollar?

I hope it won't be vandalized again

Apparently why they were recruiting. Positions to be filled.

SHELL,,,The dream of many grads.
Ibukun oluwa lo n mu ni la,,,
May God pick all our calls

Nice one
We are getting there there.
Can someone please explain to us, what this news means
I only want good news
Thanks

Okundaye4:
That is the power of dialogue.

All thanks to God, and Prof Yemi Osibanjo

You can say that again

nmreports:
Apparently why they were recruiting. Positions to be filled.

Recruiting? I don't think so.

Wait,,,,make I go over it again

Ok

Hip hip hipppp !!!
finally, with our main nerve back online, the naira will strengthen against the dollar, as we are will hv alot to save and alot to pump to stabilise the market.

Dialogue and kudi or ego at work

I heard that the Niger Delta Avengers were given $10m at first, during initial negotiations and thereafter they agreed with the government on how much to be paid monthly.

Note that this special arrangement is between the FG and the Avengers and not part of the usual Amnesty budget.

Yes, it was dialogue and settlement.

You can see that the avengers haven't coughed for over 6 months, cos their lungs have been blocked with $$$$$

hope gas price come's down

NDA loading....

LPFO FORCADOS BLEND ALLOCATION



ALLOCATION LIFTING REFERENCES:
REF. CPI/CO/28/VOL.11/51
BULK APPROVED MPR REF Nº:DPR/DS/CTO/2018/VOL.89/093
QUANTITY OFF TAKE: 900,000,000,000,000 METRIC TONS
REG./LIFTING NO: EXP.T/128/VOL.41/2322. (EACH-P.A 900TRILION METRIC TONS)
REG./LIFTING NO: EXP.T/128/VOL.41/2349. (EACH-P.A 900TRILION METRIC TONS)

ARTICLE 7: PRICE:

7.1 GROSS: #36.00 LESS N4:00K QUOTED NWE PLATT
NET TO THE SELLER: N32.00K PERLITRE
TOTAL COMMISSIONS:N4:00K
ARTICLE 23: PROCEDURE:
Procedure for the Transaction

Seller present SPA contract to Buyer to fill in where necessary, agree and sign, the signed /sealed returned contract is considered binding on both party inclusive of the indemnity clause contain therein and a corporate letter of assurance guarantee to pay all intermediaries their commission up-front as soon as the soft copy of the allocation is released, confirmed/verified and block fund unblocked.

The signed/sealed SPA by both parties is expected to be lodged in each parties bank, the Seller issued allocation PFI details is confirmed at the NNPC Tower Abuja for authenticity to enable buyer/buyer representative to block funds in the Seller’s account for the quantity signed for, to enable re-assignment in the name of the buying company or principal company/off-takers.

Buyer and his representative are invited to NNPC Tower for confirmation and verification of PFI allocation details, Buyer is expected to come along with his valid financial and up to date proof of fund and Bank Capability document.

Upon successful confirmation/verification of allocation PFI details, Buyer is obliged to initiate and establish communication with his financial institution and block fund according to the signed/sealed SPA to the seller’s account contained in the SPA to enable re-assignment of allocation in the Buyer’s name or principal/off-taker.

Upon confirmation of blocked funds by Buyer’s financial institution, re-assignment of allocation is conducted in conjunction with the Seller by NNPC for the total quantity of allocation signed and sealed for within stipulated time according to NNPC policy/guidelines for re-assignment.

After the re-assignment, softcopy of the re-assigned allocation in the name of the Buyer is released to the Buyer/Buyer’s bank for confirmation/verification.

Upon successful confirmation/verification of allocation by Buyer/Buyer’s bank and representatives, Buyer is to unblock funds and effect payment by swift via MT103 or any other approved financial instrument accepted by NNPC and the industry to all Seller/Buyer and intermediary facilitators/accounts according to Payment schedule that will be presented from the Seller to the Buyer.

Upon confirmation of payment to all concerned accounts, allocation hard copy document and other related documents are released to the Buyer/Buyer’s approved representative laycan dates and roll over are issued too through the Seller to the Buyer for preparation of programming of vessels and lifting.