Eni, the parent company of Nigerian Agip Oil Company (NAOC), on Wednesday lifted the Force Majeure it declared on expected oil output as it resumed oil export from Brass Oil Export Terminal.
A Force Majeure is a legal clause in contracts that absolves firms from legal liabilities due to circumstances beyond their control.
The management, in a statement issued through Domenico Spins, Media Relations Manager, in charge of African operations, said that the Force Majeure was lifted on March 18, which signalled restoration of normalcy.
“Following the restoration of the Ogoda/Brass 24 oil pipeline at Okparatubo at Nembe Local Government Area, Bayelsa State, which was hit by blast on March 5, caused by a third-party interference.
