• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 14 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 16 mins Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 35 mins CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 1 hour NordStream2
  • 19 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 6 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 4 days Modest drop in oil price: SPRs vs US crude inventory build
  • 4 days 2019 - Attack on Saudi Oil Facilities.
  • 5 hours "Gold Set To Soar As Inflation Fears Mount" by Alex Kimani
  • 5 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 days Ukrainian Maidan after 8 years
  • 6 days Peak oil - demand vs production
Will Rivian Become The Next Tesla?

Will Rivian Become The Next Tesla?

Rivian Automotive just went public,…

The EV Industry Is Desperate For New Lithium Supply

The EV Industry Is Desperate For New Lithium Supply

The dramatic rise of electric…

Norway's Oil Industry Averts Strike With New Wage Deal

Norway’s oil companies and industry trade unions struck a wage deal this week, averting another strike that could have cost many millions in lost oil revenue.

Reuters reported that the sides had agreed on a wage increase of more than $2,000 for this year.

Norway, normally a country that rarely makes the oil news except with new drilling, regularly makes headlines when the time comes for its oil industry and the trade unions to negotiate wages. On more than one occasion, conflicts have arisen, ending with strikes that take considerable chunks of the country’s oil and gas output offline.

A few months ago, Norway wasn’t able to avert an oil workers’ strike caused by disagreements over a new pay deal for offshore workers. In early October, 8 percent of Norway’s oil and gas production—or 330,000 barrels of oil equivalent per day (boepd)—was shut in because of the strike, and there were fears that oil output at Johan Sverdrup may also have to be reduced. The strike ended after ten days and didn’t escalate as much as to cut off nearly 25 percent of Norway’s oil and gas production, as feared.

Two years earlier, another strike shut down a Shell-operated field, taking 1 percent of Norway’s total output of oil and gas offline. While the effect of the strike was minor with regard to production, there were fears it could lead to contract cancellations and have a more extended impact on the industry.

Norway is the biggest oil producer in Western Europe, with an average daily output of some 4 million barrels of oil equivalent. Most of this is gas, but oil production last year increased substantially, by 20 percent, despite the pandemic, as production ramped up at the new Johan Sverdrup field, one of the few recent discoveries that Norway has made in recent years.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News