majeure

This appears to be a novel application of force majeure, which is more typically invoked in the case of a natural disaster, and the contractors are resisting, leading to ongoing discussions as the parties try to hammer out deals or agree to standby day rates far lower than the usual average of $400,000 a day.

PrairiePundit 2010

Exxon said its Nigerian production was closed, and has declared force majeure, meaning it is unable to meet its contractual obligations for crude deliveries -- a sign of the acuteness of the Nigeria crisis.

Oil Nears $120 on Nigeria Unrest 2008

A spokesman for BP said the company that operates the pipeline, known as Baku-Tbilisi-Ceyhan, or BTC, had declared force majeure, meaning it might not be able to meet all its oil-export commitments.

BP Shuts Pipeline After Fire in Turkey 2008

The strike has yet to have a meaningful impact on global copper supply; however, mine operator BHP Billiton Ltd. last week invoked force majeure to release itself from obligations to meet contract terms.

Copper Slips to 4-Week Low on Contagion, Economic Worries Tatyana Shumsky 2011

Shell said it won't place a force majeure on Nigerian crude oil.

Shell Shuts Nigerian Field After Pipeline Leak Alexis Flynn 2011

More How Australian Floods Weigh on Coal Prices Roughly 98 million tons of annual steelmaking-coal capacity, equal to 73% of such coal exported from Queensland, is under force majeure, according to Curt Woodworth , an analyst with Macquarie Capital in New York.

Floods Hit Key Coal Area Kris Maher 2011

As of Tuesday, some floodwaters had begun to recede in areas of Queensland, but companies had yet to lift their force majeure declarations.

Floods Hit Key Coal Area Kris Maher 2011

In early January the South declared force majeure after Sudan prevented ships carrying exports from the South from leaving port and requisitioned some of the South's oil as "payment in kind" for use of Khartoum's pipeline.

Sudan Rift Prompts South to Curb Oil Sarah Kent 2012

Miners including BHP Billiton Ltd., Rio Tinto PLC and Anglo American PLC have declared force majeure on their Queensland coalfields since the floods began, with the state supplying about 40% of the global trade of the fuel used for steelmaking.

Flood Impact to Weigh on RBA Meeting Geoffrey Rogow 2011

In recent weeks, Queensland-based Macarthur Coal Ltd., St. Louis-based Peabody Energy Corp., and the world's biggest miners, Rio Tinto , BHP Billiton and Brazil's Vale have declared force majeure, which frees them from contract liability for not shipping coal due to extraordinary circumstances.

Floods Hit Key Coal Area Kris Maher 2011