Chevron declared force majeure at its Escravos oil facility in Nigeria because of lost production, The Wall Street Journal reported late Tuesday on its Web site. Under its contracts, Chevron can legally miss deliveries because of circumstances beyond its control. The move comes after Nigerian militants blew up a Chevron-operated oil supply pipeline last week, cutting output by 120,000 barrels a day at the facility, according to the Journal, citing industry sources.
Source: Marketwatch
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