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Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 510.50
Bid: 510.40
Ask: 510.60
Change: 1.10 (0.22%)
Spread: 0.20 (0.039%)
Open: 508.50
High: 512.60
Low: 503.60
Prev. Close: 509.40
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UPDATE 1-Norwegian oil workers agree pay deal, averting strike

Tue, 04th Jun 2019 03:23

OSLO, June 4 (Reuters) - Norwegian oil workers struck a wagedeal with employers on Tuesday, averting the outbreak of astrike that would have cut production by 440,000 barrels of oilequivalents per day (boed), the Norwegian Oil and GasAssociation (NOG) announced.

Altogether nine offshore fields had been at risk of ashutdown in case of a strike, the industry group announced aheadof the negotiations.

An outage would have corresponded to about 11% of the dailyoutput from Western Europe's largest producer of petroleum.

Workers will on average get a 3.2 percent increase in pay,in line with what's earlier been obtained by two other labourunions, NOG said.

The Lederne union said however that it expected its membersto obtain further gains in upcoming talks with their respectivecompanies, while confirming that the threat of a strike had beenaverted.

The union had planned to strike at Neptune Energy's Gjoeafield, Okea's Draugen, Aker BP's Ivar Aasen andEquinor's Kristin, Oseberg East and Gudrun fields.

In addition production would have had to shut at Equinor'sTyrihans, as well as at the Maria and Vega fields, both operatedby Wintershall DEA.(Reporting by Terje Solsvik and Nerijus Adomaitis, editing byGwladys Fouche)

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TOP NEWS: BP shares rise after reports Adnoc had pondered takeover

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