Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Norway oil, gas union widens six-day drilling rig strike

Published 15/07/2018, 23:13
© Reuters.  Norway oil, gas union widens six-day drilling rig strike

OSLO (Reuters) - A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike on Monday that has slightly hit oil output after employers did not respond to demands for higher wages and pension benefits.

The union is adding 900 workers to the strike, under a plan announced last week, after failing to win concessions before a midnight (2200 GMT) deadline since almost 700 workers on the rigs went on strike on Tuesday.

The expanded strike will not have any immediate extra impact on oil or gas production beyond the closure last week of Shell's (L:RDSa) Knarr field, which produces 23,900 barrels of oil equivalent per day.

Both the Safe union and employers in the Norwegian Shipowners' Association said late on Sunday they had no contacts or new offers during the weekend.

The websites of both sides, which they said would notify workers of any breakthroughs, had no updates as the deadline passed.

"The escalation takes place from midnight as planned," Safe union spokesman Roy Aleksandersen said just before deadline. The workers on the offshore oil and gas rigs went on strike after rejecting a proposed wage and pension deal.

The employees joining the action work on exploration and production drilling rigs owned by Saipem (MI:SPMI), Transocean (S:RIGN), Songa Offshore, Odfjell Drilling (OL:ODLL), Archer (OL:ARCHER) and COSL (SS:601808), among others.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.