Nigeria Brass Crude Output Cut After Attack

Crude oil production from Eni SpA's Brass River terminal in Nigeria has been cut by around 50,000 barrels a day, traders of West African crude said Thursday.

The terminal can normally produce between 130,000 and 160,000 barrels of crude oil a day but output is thought to be lower as a result of an attack by a militia group over the weekend, traders said.

The company wasn't immediately available to comment.

"Loading (is) not affected due (to) ample stock in tank," said a London-based trader who added he was confident the company would be able to carry out quick repairs and so was "not too concerned for the production loss at this stage."

A second trader was more doubtful, expecting tighter supply.

"(I) heard about loading delay, possible force majeure is coming," the second trader said.

Copyright (c) 2008 Dow Jones & Company, Inc.


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