Nigeria, investment partners lose over $60m dollars daily to oil theft — PENGASSAN

…Calls for more women involvement in oil and gas industry

By Gloria Akudoro, Abuja

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday revealed that Nigeria and its investment partners have lost over $60 million dollars daily to crude oil theft.

In his remark, PENGASSAN President, Com. Festus Osifo stated this at its 3-Day maiden edition of PENGADDAN Energy and Labour Submit 2022 with the theme, “Energy Transition and It’s Effect on the Workforce in the Nigeria Oil and  Gas Sector,” in Abuja.

According to him, the event is one of its advocacy programmes organised towards contributing its quota to the growth and development of the the nation’s oil and gas sector. He added the summit is an avenue for the players in the sector to brainstorm on how the transition can best sailed and how it will affect  workforce that are the most important asset and to maximize value for the country.

In the spirit of energy transition, Osifo said, “The International Energy Agency (IEA) projects significant growth in the renewable energy sector by 2050 and beyond but that oil and gas will still contribute 50 per cent of global energy mix by 2050. The world is battling inflation today whose root cause is centered on the energy availability and the need  for the demand and supply mix to be right at all times.”

Enumerating global effect, PENGASSAN President stressed that horrendous effect of climate change has rekindled the world’s apprehension on how to eliminate the footprint of fossil fuel and also reduce it attendant effects on the environment.

He said global advocacy to transition has resulted to several climate change initiatives as well as world conference convergence on the discussion to curb the menace and bequeath a world that’s safe.

In response to the call to shift from fossil fuel to cleaner energy, Osifo disclosed that several oil companies have migrated to Energy Companies in order to reflect the new realities.

Oil companies that have moved from being traditional oil producers to full  range energy Companies include Total now Total Energies, Savannah Petroleum now Savannah Energies, Norway Statoil now Equinor, OVH now brand NNPC Limited and amongst others.

According to him, “A lot of oil and gas exploration companies are now strategizing and moving their investment and significant capital to renewable energy-related projects. BP, Royal Dutch Shell, Exxonmobil, researchers and developments of solar energy, hydrogen, hydro, biomass, EV charging units, biofuels, wind energy and more.”

As the Association continues to advocate for every region to be allowed to transit at its own pace, it assured its commitment to promoting the ideals of the nation’s forbearers and remain key nation-builders as well as promote policies that will serve the general good.

Meanwhile, the Group General Manager, Crude Oil Market Department, NNPC Limited, Rose Eshiett, during the panel session on the topic Women in the Oil and Gas Industry; Evolving Challenges and Benefits Gender Equity and Energy Transition called for more women involvement in the oil and gas sector.

She said women face a lot of challenges and in order to move forward will need to understand the problems so as to properly address it. Adding that what is limiting women is that most careers are believed to be men’s oriented jobs.

Eshiett however stated women should be mentored, be available and qualified for the job so as to have more women in leadership positions.

On mentorship and empowerment, Eshiett said “with mentorship and with women in leadership positions people will see women are achieving a lot. Women need to move past the mentality of jealousy in order to move forward.”

The Pioneer Chief Innovation Officer RTI NNPC Limited, Engr. Betry Ugona urged all fathers to see their girl child as an instrument that makes positive change by inculcating in them the essence of their existence.

She further enjoined women to step up and take personal resolve in changing the narrative by strongly believing in themselves that they can achieve anything.