ChevronTexaco Has Lifted Force Majeure in Nigeria

Chevron Nigeria Ltd has resumed crude oil exports from its Escravos terminal in Nigeria. Export was suspended ten days ago as a result of a fire that was caused by lighting. A bolt of lightning on July 20 set fire to a reservoir holding 180,000 barrels of oil at the plant. The fire was extinguished the following day. "Though the decision to declare a Force Majeure was a difficult one, it was the honest and ethical option open to us," said company managing director Jay Pryor, in a statement signed by company spokesman Sola Omole. The Escravos terminal normally handles exports totaling approximately 400,000 barrels per day, around one fifth of Nigeria's total output.

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