PENGASSAN warns investors against PETROBRAS assets

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned the investing publics against purchasing any asset of Petrobras Nigeria Limited. According to the senior staff trade union, Petrobras’ management had shown lack of respect and regard for the association as a viable stakeholder in the industry. PENGASSAN alleged that the company […]

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned the investing publics against purchasing any asset of Petrobras Nigeria Limited.

According to the senior staff trade union, Petrobras’ management had shown lack of respect and regard for the association as a viable stakeholder in the industry.

PENGASSAN alleged that the company has been involved in anti-union practices such as severance of workers without due process, refusal to settle severed workers’ benefits and abuse of the collective bargaining agreement.

The oil workers’ union also accused the oil company’s management of refusing to honour several letters by the association for engagement on issues that would affect its members following the proposed/concluded divestment from Oil Mining Leases (OMLs)127 and 130 which the union said was against the extant labour laws in this country.

The union alleged that the position of Petrobras’ management was a calculated attempt to undermine the union, and to continue the discrimination against Nigerians despite all the tremendous gains made in their investments.

It, therefore, warned that anyone who transacted business with Petrobras Nigeria Limited to the extent of acquiring assets of the company or part thereof should note that, he or she will also acquire Petrobras’ liabilities, including the issues with PENGASSAN.