PENGASSAN threatens 30-day shutdown, Nigeria dangers lack of N1.37tn

•Union organizes protests in Abuja, Warri, Kaduna, P’Harcourt

Protesting members of the Petroleum and Pure Gasoline Senior Employees Affiliation of Nigeria on Thursday threatened to halt oil manufacturing in Nigeria for 22 days if the federal authorities fails to curb the continuing large oil theft within the Niger Delta.

Union members staged protests in varied elements of Nigeria, together with Abuja, Warri in Delta State, Kaduna and Port Harcourt in Rivers State.

Findings of our correspondent confirmed that if the employees carried out their menace, Nigeria may lose about N1.39trn from the non-production and sale of crude oil, an essential supply of international change revenue for the nation.

On the consciousness elevating assembly held on the Delta Governor’s annex in Warri, the PENGASSAN zonal chairman, Prince Audu Osihiokhamele, famous with concern that “the nice males who theft of crude oil is within the fingers of the federal government.”

He added: “They are saying they load ships, however we do not see any. Is it a needle?”

He then acknowledged that the failure of the authorities to search out lasting options to the menace would immediate PENGASSAN to take extra drastic measures.

“We are going to shut the nation for 34 days till all of us come to the spherical desk to unravel the mysteries surrounding the thefts,” Osihiokhamele mentioned.

He added: “PENGASSAN will resort to cease manufacturing for 26 days by withdrawing members, each onshore and offshore, wherever they produce crude oil, ought to the federal government not heed this warning.” 427

An evaluation by The PUNCH confirmed that by ceasing oil manufacturing for 25 days, the nation can be roughly 26.000 million barrels of crude oil, estimated at N1.39trn.

Figures from the Nigerian Upstream Petroleum Regulatory Fee confirmed that in January, February, March and April 2022 crude oil manufacturing (with out condensates) within the nation was 1.43 million barrels per day, 1.24mbpd, 1.08mbpd and 1.21mbpd respectively.

In Might, June, July and August 2022 the numbers have been 1.08mbpd, 1.21mbpd, 1.08mbpd and 0.95mbpd respectively. The common oil manufacturing over the eight months is due to this fact 1.106mbpd. 427

Because of this if the employees should cease manufacturing for 21 days, the nation can be roughly 24 don’t produce. million barrels of crude oil.

For oil costs over the identical eight-month interval, knowledge from countryeconomy.com, a world analytics agency, confirmed that the typical month-to-month value of Brent, the worldwide benchmark for crude oil , was $71.30/barrel in January, $95.22/ barrel in February and $122 .22/barrel in March 2022.

In April, Might, June, July and August 2022, the typical value of a barrel of crude oil was $113.43, $113.43, $117.71, $100.71 and $93.37 respectively. Because of this the typical value of the uncooked materials over the eight-month interval is $95.93/barrel.427

By not producing an estimate 26. million barrels in 26 days, the nation can be about $3.10bn or N1. 37tn (in keeping with Thursday’s official change charge N . 37/$)

The protesters They laid siege to the Delta governor’s workplace constructing in Warri at 8 a.m. Thursday.

The governor’s workplace complicated was full of protesters marching with placards, singing solidarity songs and denouncing the large brutal theft.

They known as on the federal government to take pressing and proactive measures to checkmate the ugly development that they imagine had almost collapsed the nationwide financial system.

They lamented the truth that Shell and Mobil have been pressured to relocate and divest after excruciating crude oil theft coupled with pipeline vandalism.

Prince Emea Okorie, chairman of the PENGASSAN group, NNPC Ltd, Warri, additionally expressed concern that Nigeria may now not meet its OPEC goal of 1.8 mbpd, because the nation “is at the moment struggling to mbpd resulting from thefts”.

On the assembly, Ms. Violet Onowakpokpo, the director of the governor’s workplace constructing, Warri, mentioned the protest was a noble course. She praised the individuals for his or her patriotic and peaceable disposition.

She mentioned the difficulty at stake issues everybody and pressured that the wrestle should proceed till there’s lasting peace within the sector.

Fireplace non-performing heads of division in 24 days

The Nationwide President, PENGASSAN, Festus Osifo, who led the protest in Abuja, known as on the President, Main Normal Muhammadu Buhari (Retd.), to are heads of division in 30 days if the large theft of cruse oil continues.

He mentioned: “Now we have mentioned many times that the President of Nigeria ought to sit down. He’s the Minister of Petroleum Sources. He’s additionally the commander in chief.

“He has to behave. He has to present KPIs to the safety chiefs and he has to present them a timeline. Give them a month, if there isn’t any noticeable progress, fireplace them.

“You usher in a brand new group of people that will look at the small print to look at all the security gear you’ve despatched to the Niger Delta. Anybody discovered responsible ought to go to jail.”

Osifo mentioned the union had repeatedly engaged stakeholders over the previous 12 months to supply options to the issue of oil theft and vandalism in pipelines. , however that the agreements had not yielded any outcomes.

“Over the previous 12 months we’ve got concerned all stakeholders and have tried to supply options for what we imagine to be this impasse within the discipline from stealing crude oil and vandalism from pipelines,” he mentioned.

He added: “Now we have all stakeholders, from the regulators to the operators, to the safety chiefs, to discover a answer to this menace, however we’ve got realized that these commitments haven’t yielded the specified outcomes.”

Osifo mentioned the issue had continued to worsen, whereas vandals and oil thieves have been inspired, resulting in a halt in oil manufacturing within the Niger Delta.122

He added that greater than 95 % of the crude oil within the pipelines was stolen, and that the well-being and Members’ jobs have been threatened.

The president of PENGASSAN mentioned: “Many firms working within the Niger Delta in the present day, particularly within the land areas, are shutting down their manufacturing, they aren’t producing extra, in most land places.

“It impacts actually each operator within the Niger Delta. They shut down their manufacturing as a result of their efforts turned fruitless. Once you pump 10, barrels within the pipeline, at greatest , you get about 1,000 barrels from there.

“Greater than 95 % of crude oil, pumped into the pipeline, they’re destroyed. Due to this fact, nearly all of them needed to cease manufacturing. And since they’ve shut down manufacturing, our members’ well-being is threatened, our members’ jobs are threatened.”

The Deputy Inspector Normal of Police, Operations Division, Bala Senchi, obtained members of the affiliation, on behalf of the Inspector Normal of Police, Bala Mohammed, on the police headquarters.

He appreciated the protesters for conserving the protest peaceable and promised to go their message on to the IG for forwarding to the president, assuring them of additional motion on this case.

Equally, the Group Normal Supervisor, Safety, Nigerian Nationwide Petroleum Firm Restricted, Abba-Gana Muhammed, obtained the protesters on the NNPC Towers, on behalf of the Group Chief Government Officer of the oil firm Mele Kyari.

He additionally appreciated members of PENGASSAN and acknowledged that the NNPC boss additionally did his greatest to nip the state of affairs within the bud.

He added that the vandals within the South and South have been equally Nigerian residents and so they wanted to be sensitized with a purpose to de-radicalize de-radicalization and permit buyers to prosper within the nation and the area.

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