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The Shell Petroleum Development Company of Nigeria Limited (SPDC), on Wednesday, said it has lifted the force majeure on the 250,000 barrel-per-day Bonny export terminal, one year after it shut the terminal due to suspected sabotage.
The force majeure was declared on March 3, 2022, following a significant decline in crude receipts at the Bonny Oil and Gas Terminal, according to a spokesperson of SPDC.
Force majeure is a legal provision that permits businesses to avoid contractual obligations due to circumstances beyond their control.
