Property damage and business interruption

29.4, strike

Nigeria: ExxonMobil Corporation took the drastic step of declaring force majeure on its energy operations in Nigeria because of an ongoing labour strike, signalling the damaging effect the dispute is having on its operations in the country. The declaration means ExxonMobil is unable to meet its contractual obligations because of a shut-in by the strike of around 800,000 barrels a day of crude oil output. Exxon would not speculate about the length of the shut-in nor how long it would take to restart production. Exxon said it had notified all relevant agencies including the Nigerian National Petroleum Corp. and the Department of Petroleum Resources and was working with them to ensure quick resolution of the issues.