Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" to make sure that it is not stolen by an email from a reuter
In July, more than 100 tankers from Nigeria's waters,were banned by state-run Nigerian National Petroleum Corp (NNPC) banned citing a directive from President Muhammadu Buhari, who try to trace and call "mind-boggling" sums stolen from the oil sector in Nigeria
september 2015 Nigerian National Petroleum Corp (NNPC) lift the banned and ask ship owners to sign "guarantee to indemnify" because it is against any miss used of their property. This led some owners to reject pending bookings of oil.
"note that LPG & Products ship owners to sign the NNPC LoC for any future Shell loading voyages,"
now Shell is putting its reputation on ground that the fact that warrants and gurrantee the cargo is NOT stolen and this should remove any concerns ship-owners have around bad title down the oil chain," the email said.
Shell also said that it was looking for a way to remove any negative impact that the requirement to provide the letter might have.
“ they also said that What we are doing is to make sure that our business is not affected by working with our own vessel owners to provide this letter in the legal language that everyone can live with,”
Traders said the email showed that oil companies, trading houses and tanker owners were ensuring actions taken by Nigeria to prevent oil theft did not affect the market.
Traders also said that ssome other companies and trading houses had drafted out similar letters to ensure trading is going well witout any disturb.
In July, more than 100 tankers from Nigeria's waters,were banned by state-run Nigerian National Petroleum Corp (NNPC) banned citing a directive from President Muhammadu Buhari, who try to trace and call "mind-boggling" sums stolen from the oil sector in Nigeria
september 2015 Nigerian National Petroleum Corp (NNPC) lift the banned and ask ship owners to sign "guarantee to indemnify" because it is against any miss used of their property. This led some owners to reject pending bookings of oil.
"note that LPG & Products ship owners to sign the NNPC LoC for any future Shell loading voyages,"
now Shell is putting its reputation on ground that the fact that warrants and gurrantee the cargo is NOT stolen and this should remove any concerns ship-owners have around bad title down the oil chain," the email said.
Shell also said that it was looking for a way to remove any negative impact that the requirement to provide the letter might have.
“ they also said that What we are doing is to make sure that our business is not affected by working with our own vessel owners to provide this letter in the legal language that everyone can live with,”
Traders said the email showed that oil companies, trading houses and tanker owners were ensuring actions taken by Nigeria to prevent oil theft did not affect the market.
Traders also said that ssome other companies and trading houses had drafted out similar letters to ensure trading is going well witout any disturb.