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Page added on April 29, 2008

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ExxonMobil Declares Force Majeure on Strike, Shut-In 800,000 bbl/d

ExxonMobil Corp. Monday took the drastic step of declaring force majeure on its energy operations in Nigeria because of an ongoing labor strike, signaling the damaging affect the dispute is having on its operations in the country.


The declaration means ExxonMobil is unable to meet its contractual obligations because of a shut-in by the strike of around 800,000 barrels a day of crude oil output.


“The (Exxon) affiliates will not speculate about the length of the shut-in nor how long it will take to restart production,” an Exxon spokeswoman said.


ExxonMobil also said it was still hoping for a resolution to the strike.


Dow Jones Newswires



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