• Saturday, December 09, 2023
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NNPC restores 275,000bpd output, resolves PENGASSAN/TotalEnergies rift

90% of depot shut down operations amid FX, distribution crisis

The Nigerian National Petroleum Company (NNPC) Limited on Sunday said it has brokered a peace deal between TotalEnergies, operator of the NNPC/TotalEnergies JV, the Petroleum and Natural Gas Senior Staff Association, (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG).

The peace deal led to the unions agreeing to suspend ongoing industrial action and therefore immediately restore the production of 275, 000 barrels of oil per day, according to acommuniqué on the resolution seen by BusinessDay.

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

The communiqué was signed by TotalEnergies Matthieu Bouyer, MD/CEO, Festus Osifo, PENGASSAN President, and Williams Akporegha, NUPENG President.

According to the communiqué, the peace agreement was witnessed by Oritsemeyiwa Eyesan, EVP Upstream of the NNPC and Bala WuntiChief Upstream Investment Officer, NNPC Upstream Investment Management Services. “Also in attendance was Victor Bandele, Deputy Managing Director, TotalEnergies.”