Bloomberg: Nigeria Oil Unions Set for Government Talks Amid Strike
Nigeria’s two oil unions are set to meet with government officials for talks today as an indefinite strike aimed at curbing local fuel supply and exports entered a third day in Africa’s biggest crude producer.
The impact of the strike has been restricted to domestic fuel supply with oil lifting and export terminal operations unaffected at the moment, Francis Johnson, president of the Petroleum and Natural Gas Senior Staff Association of Nigeria, or Pengassan, said by phone yesterday from Lagos, the commercial capital. Union leaders will hold talks with the authorities today in Abuja, the capital, he said.
Any reduction in pumping would coincide with a collapse in the price of Nigeria’s biggest source of government revenue. Brent crude oil plunged about 46 percent this year. Nigerian policy makers devalued the local currency last month and is proposing spending cuts for next year as it heads toward elections in February.
MORE