Biblical Context:
The event of Jacob naming the place Peniel is recorded in Genesis 32:22-32. This passage is a pivotal moment in the life of Jacob, the patriarch, as it marks a significant spiritual encounter with God. Jacob, having left Laban and on his way to meet his estranged brother Esau, finds himself alone at night after sending his family and possessions across the Jabbok River.

The Wrestling Match:
In Genesis 32:24, Jacob is described as wrestling with a mysterious man until daybreak. This encounter is both physical and spiritual, symbolizing Jacob's struggles with God and man throughout his life. The identity of the man is revealed to be divine, as Jacob later acknowledges that he has seen God face to face.

Divine Blessing and Name Change:
During the struggle, the man touches Jacob's hip socket, dislocating it, yet Jacob refuses to let go until he receives a blessing. In Genesis 32:28, the man declares, "Your name will no longer be Jacob, but Israel, because you have struggled with God and with men and have prevailed." This name change from Jacob, meaning "supplanter" or "heel-grabber," to Israel, meaning "he struggles with God," signifies a transformation in Jacob's character and destiny.

Naming the Place Peniel:
After the encounter, Jacob names the place Peniel, which means "face of God." In Genesis 32:30, Jacob states, "For I have seen God face to face, yet my life was spared." This naming reflects Jacob's recognition of the divine nature of the encounter and the grace he received in surviving it. The name Peniel serves as a testament to the profound impact of this experience on Jacob's life and faith.

Theological Significance:
The event at Peniel is rich with theological implications. It illustrates the concept of divine-human interaction and the transformative power of God's presence. Jacob's wrestling with God can be seen as a metaphor for the spiritual struggles believers face, emphasizing perseverance and the pursuit of God's blessing. The encounter also highlights God's sovereignty and grace, as He chooses to engage with Jacob and bestow a new identity upon him.

Legacy and Influence:
The naming of Peniel has left a lasting legacy in biblical history. It marks a turning point in Jacob's life, leading to reconciliation with Esau and the continuation of God's covenant promises through Jacob's descendants. The account of Peniel is often referenced in discussions of spiritual growth, identity, and the nature of divine encounters.

Cultural and Historical Context:
In the ancient Near Eastern context, names and places held significant meaning, often reflecting personal experiences or divine revelations. The naming of Peniel aligns with this cultural practice, serving as a memorial of Jacob's encounter with God. The location itself, near the Jabbok River, is historically significant as a site of transition and transformation for Jacob and his family.

Scriptural Cross-References:
The theme of seeing God and living is echoed in other biblical passages, such as Exodus 33:20, where God tells Moses, "You cannot see My face, for no one can see Me and live." Jacob's experience at Peniel foreshadows the ultimate revelation of God in Jesus Christ, who makes the invisible God known to humanity (John 1:18).

Conclusion:
The account of Jacob naming the place Peniel is a profound narrative that encapsulates themes of struggle, transformation, and divine encounter. It serves as a powerful reminder of God's willingness to engage with His people and the transformative impact of His presence in their lives.