August 16, 2018

Crude output cut further by Exxon pipeline damage

Crude output cut further by Exxon pipeline damage

Damage to a pipeline has reduced supplies of Nigeria’s benchmark Qua Iboe BFO-QUA crude oil, two traders said on Thursday, the latest setback for Africa’s top producer that has pushed output to its lowest in more than two decades.

Operator Exxon Mobil Corp confirmed in an email that a drilling rig, experiencing mechanical difficulties, damaged the pipeline it jointly owns with the state-owned Nigerian National Petroleum Corporation (NNPC) and caused a spill on Sunday.

Exxon said Mobil Producing Nigeria (MPN) continues to assess the situation. It did not give any other details and it was not clear how much output was lost.

The drilling rig is owned by Depthwize Nigeria Limited and Drilling on behalf of Conoil Producing. Read more

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