The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), strengthened its commitment to fight crude oil theft and promised to keep going until it is defeated.

During the 2024 PENGASSAN Energy and Labour Summit (PEALS 2024) in Abuja on Wednesday, 21 August 2024, Festus Osifo, the President of the association, made this promise. “The Future of Nigeria’s Oil and Gas Industry: Energy Mix, Energy Security, Artificial Intelligence, Divestment, and Crude Oil Theft” is the theme of the summit.

According to Osifo, “Our industry, economy, and national integrity are seriously threatened by the scourge of crude oil theft.” Over the years, as an Association, we have taken the initiative to support this cause in both public and corporate settings, and we have no intention of giving up until we are certain of success.

“We remain unwavering in our determination to consistently collaborate with other stakeholders in the industry to address this threat using heightened security protocols, cutting-edge technology, community outreach, and coordination with law enforcement.”

He claimed that Nigeria was at a crossroad, especially in the oil and gas industry, and that the association’s decisions and activities needed to be directed toward saving the nation. He further stated that the goal of the summit was to provide a framework for government policy aimed at influencing the economic future of the nation.

Osifo claimed that the difficulties their members were facing had worsened as a result of the Naira’s floating on the official market. Thus, he urged all involved in the business to look into creative ways to protect workers’ finances, stop companies from making unjustified profits, and guarantee a fair and equal working environment for everybody.

PENGASSAN would use every effort, according to Osifo, to promote a fair and impartial distribution among its branches. Regarding President Bola Tinubu’s recent signing of an Executive Order that provided benefits to investments in the oil and gas industry, the labor leader expressed gratitude.

According to him, the action was a result of the $550 million Final Investment Decision on the Ubeta project that was recently revealed by NNPC Limited and TotalEnergies.

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