PENGASSAN Strike Cuts Nigeria's Oil Output by 283,000 Barrels, Power Supply Affected

The Nigerian National Petroleum Company Limited (NNPCL) reported a significant reduction in oil and gas production by 283,000 barrels per day following a strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). This led to a 16% decrease in national output and a drop in gas production, impacting power generation in the country.

The strike resulted in missed crude liftings and reduced gas sales, causing substantial revenue losses for NNPCL. The company activated a business continuity plan to manage operations and mitigate the impact on revenue and power supply.