• 4 minutes What If Canada Had Wind and Not Oilsands?
  • 8 minutes EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 17 minutes Could oil demand collapse rapidly? Yup, sure could.
  • 25 mins U.S. Withdraws From U.N. Human Rights Council
  • 48 mins Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 10 hours Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 13 mins Could oil demand collapse rapidly? Yup, sure could.
  • 10 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
  • 6 hours "The Gasoline Car Is a Car With a Future"
  • 2 hours Saudi Arabia turns to solar
  • 4 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 3 hours What If Canada Had Wind and Not Oilsands?
  • 14 hours North Korea, China Discuss 'True Peace', Denuclearization
  • 6 hours EVs Could Help Coal Demand
  • 4 hours Gazprom Exports to EU Hit Record
  • 14 hours WE Solutions plans to print cars
  • 19 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 1 day Australia mulls LNG import
  • 1 day Oil and Trade War
Uncertainty Looms Large Over Latin American Oil

Uncertainty Looms Large Over Latin American Oil

While Venezuela is grabbing a…

3 Possible Outcomes From The OPEC Meeting

3 Possible Outcomes From The OPEC Meeting

With the OPEC meeting nearing,…

Norwegian Oil Workers Threaten to go on Strike if Negotiations Fail

Oil trade unions in Norway, the world’s eighth largest oil exporter, have threatened to go on strike in the next few days if negotiations with the national energy firms do not progress satisfactorily. The unions are demanding wage increases, better paid overtime, and the ability to retire at the age of 62. The Oil Industry Association (OLF) has already said they will not change their position on pensions, increasing the likelihood of a strike.

Gro Losvik, an official at Industri Energi, the largest Union taking part in the negotiations, admitted that “at this time I would assess the risk for a strike as 50/50. We have a plan for expanding the strike if we have to, but we are hoping to avoid this through negotiations.”

Any strikes to be held will initially take place at two the Statoil fields operated at Heidrun and Oseberg, which account for 150,000 barrels a day, about nine percent of Norwegian output and four percent of the total natural gas output.

The OLF estimate that at the beginning the strikes will cost about $28.61 million a day.

The negotiations will continue on Friday and Saturday with the OLF, representing the oil companies, battling against Industry Energy, the Norwegian Union of Energy Workers, and the Norwegian Organisation of Managers and Executives.

Current oil prices are trading at an eight month low, but could be set to rise if the strikes take place and restrict the supply of crude to the market.

By. Charles Kennedy of Oilprice.com


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

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