Business
Nigeria’s Qua Iboe crude oil terminal closed, workers evacuated – traders
Nigeria’s Qua Iboe crude oil terminal, operated by ExxonMobil, is closed and workers have been evacuated, traders said on Thursday. A market source said that the evacuation was caused by the threat from militants and that tanks had been emptied of crude. Exxon did not immediately respond to a request for comment.
Exxon Mobil cut Qua Iboe production and declared force majeure on exports last Friday, after a drilling rig, experiencing mechanical difficulties, damaged the pipeline it jointly owns with the state-owned Nigerian National Petroleum Corporation (NNPC).
Production was ramped up again earlier this week. Qua Iboe is Nigeria’s largest crude oil stream and exports usually amount to more than 300,000 barrels per day.
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