NNPC Restores Production of 275,000bpd, Settles PENGASSAN-Total Energies Rift

Following a peace deal brokered by the Nigerian National Petroleum Company Limited (NNPCL) between the Management of Total Energies, operator of the NNPC/Total JV, the Petroleum and Natural Gas Senior Staff Association, (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), the unions have agreed to suspend on-going industrial action leading to immediate restoration of 275, 000 barrels of oil per day production.

In a communique issued at the end of a marathon negotiation session chaired by Mrs. Oritsemeyiwa Eyesan, Executive Vice President, Upstream, NNPCL, all parties committed to resolving all the issues within an agreed framework.

The communique was signed by Total Energies MD/CEO, Mr. Matthieu Bouyer, PENGASSAN President, Comrade Festus Osifo and NUPENG   President, Comrade Williams Akporeha.

It was witnessed by NNPC Limited, EVP Upstream, Mrs. Oritsemeyiwa Eyesan, and Mr. Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Management Services, (NUIMS).

Also in attendance was Mr. Victor Bandele, Deputy Managing Director, Total Energies.

 

 

 

Hot this week

Is Investing for Me? Rethinking Who the Stock Market is Actually Built For

  By Robinson Kolawole "Investing is not for someone like me."...

CIIN Boss, Yetunde llori, Bows Out, Lists Achievements in Office

Mrs. Yetunde llori, the President/Chairman of Council, Chartered Insurance...

WorldStage Business Forum Q2 2026: Prof. Baale Makes Case for Building World-class Nigerian Corporate Culture

L-R: Mr. Segun Adeleye, President/CEO, World Stage Limited; Prof. Lere...

Insurance Brokers Reaffirm Commitment to Local Content, Digital Innovation at SUPERNEWS Conference

Deputy President of the Nigerian Council of Registered Insurance...

Topics

Sovereign Trust Insurance 2023 Strategy Session Targets Market Leadership, Growth

L-R: Emmanuel Anikibe, DGM, Marketing & Business Development Division,...

Global Pension Assets Rose to $35Tr in 2020 Despite COVID-19

Aisha Dahir-Umar Director-General National Pension Commission (PenCom) Preliminary data for 2020 shows...

Smile Communications Launches #SmileSalutes Campaign to Recognise, Reward Excellence in Public Sector

Smile Communications, the leading 4GLTE telecommunications company, is thrilled...

The 2nd Nigeria ICT Festival 2016 Postponed

The 2nd Nigeria ICT Festival earlier scheduled for Thursday,...

US Seeks Probe of AfDB’s President, Adesina over Ethics Allegations

  The United States of America (USA) through its Department...

NIA Names Tope Smart as Deputy Chairman

Mr. Tope Smart, Group Managing Director/CEO, NEM Insurance Plc...

Ecobank: Rapidtransfer Now Free to Celebrate Nigerians In The Diaspora

In commemoration of this year’s National Diaspora Day...

Stanbic IBTC Asset Mgt Clinches Top Honour at Global Banking & Finance Awards

Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC...