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.
-
News1 day agoCourt orders British Govt. to pay £420m to 21 coal miners killed by colonial masters
-
Finance1 day agoCBN cuts 1-Year Treasury Bill rate, rejects Bids
-
Maritime1 day agoNIMASA mulls expansion of deep blue project, calls for continued partnership with Navy
-
Economy1 day agoBPE, stakeholders unite to rollout $500m free meters, DisCos pledge to lead drive
-
Business1 day agoMTN to acquire controlling stake in IHS Holdings, eyes full ownership
-
Agriculture1 day agoOver 2.5m metric tonnes of food valued N2trn produced in 2yrs—FG
-
Economy11 hours agoDubai’s consumer electronics maker, Maser Group to invest $1.6bn in Nigeria, others
-
Oil and Gas11 hours agoEdo govt, NNPC partner to establish 10,000bpd condensate refinery