June 21, 2024

ExxonMobil declares force majeure, as workers down tools

Oredola Adeola


ExxonMobil has declared force majeure on oil lifting following an industrial action by the company’s in-house workers Union.


This was confirmed in a statement by Michelle Gray, Public relations and Public Affairs ExxonMobil on Monday.


EnergyDay can gathered that the new development is likely to hit the country target to make a production recovery in 2023.


According to Gray international oil company is exploring ways to resolve the issues with the workers.


He said, “We will continue to take all reasonable actions necessary to resolve the impasse as soon as possible,” Gray said on Monday.


Nigeria’s crude oil output for April may likely drop further to around 1million barrel per day due to the latest developments.


The country’s crude oil production growth dipped to 2.95 percent month-on-month, in March 2023, to 1,268,202 barrels per day(bpd) from 1,306,304 bpd recorded in February 2023, based on crude oil production status released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC)


There is fear that this would also impact negatively on the country’s prospect of hitting 1.69mbpd, 2023 budget crude oil production target, while also falling short of its OPEC production quota of 1.8 million bpd.