OTCPK:MAUXF - Post by User
Post by
3lectricgorillaon Apr 17, 2013 4:13pm
243 Views
Post# 21267315
Shell Pipeline With Mart In Trouble?
Shell Pipeline With Mart In Trouble? With the recently influx of thievery of Nigerian oil from pipelines and Shell's Force Majeure today shocking oil markets, is the agreement between Mart and shell for the export pipeline in jeopardy. It would be difficult to say these talks for the Shell pipeline are moving forward when Shell is actually closing down pipelines...any comments on this new update?
Via reuters: Shell said it replaced the Nembe trunkline in 2010 at a cost of $1.1 billion (721.8 million pounds) but it has since been regularly targeted by thieves who break into the pipeline and siphon off oil.
Will Shell be willing to invest in a new pipeline with Mart when it's other pipelines continue to be attacked and siphoned for oil. $1.1 billion is a major cost to just replace pipeline trunklines. Any comments?