PENGASSAN Threatens To Shut Down Oil Production
PENGASSAN, the Petroleum and Natural Gas Senior Staff Association of Nigeria has threatened to obey the orders as the fuel subsidy removal protests enters its fifth day today. PENGASSAN said it would shut down oil and gas production on Sunday.
Sweet crude has jumped more than $2 to over $114 on Wednesday after the biggest oil production said it would shut down oil production. Maersk Line, a container shipping group is unable to bring its vessels carrying consumer goods and foodstuffs into the Nigerian port as a result of the nationwide strike.
A total of N348 billion has been lost to strike and these may continue unless the Federal Government and organized labour reach a compromise as soon as possible
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