OTCPK:MAUXF - Post by User
Post by
takingthemonon Apr 02, 2013 11:43am
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Post# 21198714
PIPELINE DOWN
PIPELINE DOWN
Eni, which operates in Nigeria as Nigeria Agip Oil Company, NAOC, said it authorised the suspension of operations on March 22 and subsequently declared Force Majeure on its oil output from the facility on March 23.
“Force Majeure is a legal notice that absolves an oil firm of liabilities for failure to meet supply obligations to crude buyers due to circumstances beyond the firm’s control.
“Eni confirms that between March 21 and 22, the company declared force majeure and ordered the closure of its onshore activities in Bayelsa State, Nigeria.”