• 2 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 2 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 2 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 3 days British Utility Companies Brace For Major Reforms
  • 3 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 4 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 4 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 6 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Will Demand For Offshore Rigs Ever Recover?

Will Demand For Offshore Rigs Ever Recover?

Offshore drilling companies have struggled…

Controversial Azeri Pipeline Receives $500M Funding

Controversial Azeri Pipeline Receives $500M Funding

The European Bank of Reconstruction…

First Signs Of Labour Problems For The World’s Top Platinum Nation

Platinum Nugget

I wrote last week about the looming problems in South Africa’s platinum sector, with tough contract negotiations with unions coming up for mining companies in the world’s top-producing nation.

And it didn’t take long after that writing for labour issues to explode into action.

Last Friday, top platinum workers’ union AMCU announced a strike at the Kroondal mine operated by Sibanye Gold, with workers walking off the job over a slate of demands including worker benefits.

The strike quickly got complicated. Sibanye filed a court motion over the weekend claiming the strike was illegal — which was upheld by judges, who declared the labor action “unlawful”, effectively ordering AMCU miners back to work.

Related: Why the Oil Majors Face Inevitable Decline

AMCU officials held an internal meeting on Monday, and said they would indeed call off the strike, which means that the impacts from this action on production will be limited.

But the wider implications of this brief saga are important, as it suggests that South Africa’s platinum unions may be gearing up for tough negotiations with mining companies.

The fact that the AMCU carried out such an illegal strike suggests the group didn’t expect this to be a prolonged action. Union leaders certainly would have known they would be ordered back to work after they didn’t follow the protocols for declaring a legal strike.

Related: The Offshore Oil Business Is Crippled And It May Never Recover

That suggests this action was meant as a “shot across the bow” for mining firms like Sibanye, signaling the union’s willingness to take drastic action as the two sides enter negotiations over pay and benefits.

AMCU officials said they will now meet with Sibanye representatives to start discussing demands. With these talks almost certain to be more tense following the events of the past weekend.

Watch for news on the progress of negotiations — and for possible additional strike action if unions don’t get what they want in terms of pay increases and other demands.

Here’s to taking action,

By Dave Forest

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News