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Exxon Mobil to miss production target

Feb 08 2013 17:01

Lagos - Exxon Mobil has warned that it won't be able to meet its production forecast for Qua Iboe crude oil pumped from Nigeria due to pipeline repair work.

The oil major's Nigerian subsidiary said in a statement late on Thursday it had declared a "force majeure" warning for shipments of its Qua Iboe crude oil - meaning the company cannot cover the promised supply from the field.

The company said it was working to repair a section of a major pipeline and that production continues in fields which aren't affected by the damaged pipeline.

The statement did not say when the lines would be running at capacity again.

Nigeria, which produces more than 2 million of barrels of oil a day, is a top crude oil supplier to the US.

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exxon mobil  |  nigeria  |  oil


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