Gulf Oil and Gas accountACCOUNT

NNPC Warns Against Panic Petrol Buying Amid Union Strike

Source: Reuters 7/9/2016, Location: Africa

Nigeria's state oil company urged motorists not to engage in panic petrol buying, a day after a trade union representing oil workers began a strike that raised fears of future fuel shortages.

Petrol shortages caused lengthy queues for motorists seeking to fill their tanks earlier this year after fuel importers struggled to find dollars needed to pay for refined oil products due to foreign exchange restrictions imposed by the central bank.

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday said 10,000 of its members, which include refinery workers and office staff, had begun industrial action over issues "critical to the survival" of the country's energy sector.

There was no sign yet of any panic buying but the Nigerian National Petroleum Corporation (NNPC) cautioned members of the public against any form of panic purchase.

"The corporation has in stock enough products to satisfy local consumption requirements for the next 45 days," said NNPC spokesman Garba Deen Muhammad.

Muhammad also said the state oil company had begun talks with trade union leaders to address their concerns.

PENGASSAN said it decided to strike over issues such as joint venture funding and cash call arrears, which it said had stalled the creation of new jobs and investment in the sector.

Cash calls are the government's financial obligations to joint venture projects between NNPC and international and local oil companies.

Labor Services News in Nigeria >>

Ghana >>  3/24/2020 - Maersk Drilling has received a notification from Tullow Ghana Ltd. of early termination for convenience of the drilling contract for the drillship Mae...
Algeria >>  3/16/2020 - SONATRACH and CHEVRON proceeded, to the signing of a memorandum of understanding to initiate joint discussions on the opportunities concerning the exp...

Angola >>  3/10/2020 - TechnipFMC has been awarded a significant(1) integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from BP Angola for t...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.