Shell Shuts Down Nigeria Pipeline After Thefts

For the second time this year, Royal Dutch Shell has shut down a major oil pipeline in southern Nigeria to repair damage caused by theft.

Shell says it shut down its Nembe Creek Trunkline on Monday to remove illegal oil taps and investigate suspected theft-related leaks.

The shutdown will halt production of about 150,000 barrels of oil a day. 

As a result, Shell has declared a “force majeure” on its Bonny Crude Light exports, meaning that it is unable to meet the contracted …