The National President, PENGASSAN, Festus Osifo, disclosed this on the PENGASSAN Total Exploration and Production Nigeria 6th Triennial Branch Delegates Conference in Abuja.
“What we are advocating is that as long as authorities wants to make extra cash, it must additionally consider the world’s buyers to make certain a balanced device.
“This is essential in order not to make investors run to other countries which have crude oil. So, it ought to be a balanced bill in an effort to inspire investors to stay.
“We have about 37 billion barrels of crude oil reserves now, if we have buyers that positioned their cash into it, they'll constantly expand those reserves and our country wide production will boom,” Osifo said.
He explained that if investors were disincentivised, they would visit neighbouring international locations to discover and bring crude oil.
“That is why we need a balanced bill. Again, we want traders to make cash in order that on the end of the day, our members could be higher off due to the fact their welfare is paramount,” he added.
The past Branch Chairman, Total E&P Nigeria PENGASSAN, Mr Victor Ibeawuchi, referred to as for collaboration and group paintings in the oil and gasoline sector.
“The industry desires extra collaboration for all to progress and that consists of deeper union/control engagement and cooperation,” Ibeawuchi said.
The News Agency of Nigeria (NAN) reports that new government members have been elected at the two-day conference, with Charles Daramola emerging as the new department Chairman; Edidiong Edidiong-Umoh, Vice Chairman; Joseph Onuorah, Secretary; and David Anaba, Public Relations Officer.
Others include Wilson Opuwariboko, Financial Secretary; Cletus Udoh, Assistant Secretary; Enoch Ebere, Branch Auditor; and Abubakar Ibrahim, Treasurer, among others.
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