Chevron lifts force majeure at Angolan oil platform

GENEVA (Reuters) - U.S. oil major Chevron's Angolan subsidiary Cabinda Gulf Oil Company lifted a month-long force majeure at the Kuito offshore oil terminal on November 27, Chevron said on Thursday

The end of force majeure will likely come as a relief to oil traders active in the west African market where theft and flooding in Nigeria has also caused disruptions to exports.

A Chevron spokesman added that there was no impact on production at Kuito as the necessary repair work on a mooring line coincided with planned maintenance.

Still, the repairs affected oil loadings at the terminal over the past month, although these resumed this week, Chevron added.

Angola is Africa's second largest oil producer after Nigeria and the Kuito platform typically loads two 920,000 barrel tankers a month.

Shell also lifted the last of three force majeures on its Nigerian oil and gas exports on Thursday, declaring production restored for Forcados crude.

But force majeures, a clause that allows companies to suspend contractual obligations in the face of unexpected events, on Nigerian grades operated by Exxon Mobil and Eni remain in place.

Source: http://news.yahoo.com/chevron-lifts-force-majeure-angolan-oil-platform-055314822--finance.html

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