The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Shell, U.S. oil workers to talk more on fourth day of refineries strike

Wed, 04th Feb 2015 10:53

* Strike affects 10 percent of U.S. refining capapacity

* Most plants operating near normally with non-union labor

* Strike has boosted gasoline futures prices

By Erwin Seba

HOUSTON, Feb 4 (Reuters) - Negotiations will resume onWednesday between Royal Dutch Shell Plc and unionleaders as they haggle over a new wage contract for strikingU.S. refinery workers, the company said.

The two camps have been at an impasse since the UnitedSteelworkers union (USW) called walkouts early on Sunday for thefirst time since 1980 at nine plants with about 10 percent ofU.S. refining capacity, saying Shell left the negotiating tablewhen talks broke down.

Most affected refineries are running near normal, withoperators having called on trained managers, retirees and othersfrom non-union plants to replace workers.

But one plant, Tesoro Corp's 166,000 barrel-per-dayMartinez, California, refinery, was shutting down as part of itwas already undergoing maintenance work, the company has said.

Talks have been difficult as a drop of more than 50 percentin oil prices since June has eroded profits of major companies,prompting executives to say they cannot afford to lift wages forworkers.

The union said talks late on Tuesday made "no progress."Shell called them "productive."

The union has said further walkouts may be ordered at someof the other 63 refineries and chemical plants it represents ifadvances are not made.

"Bargaining continued today, no progress to report, willresume tomorrow," read a text message the union sent to itsmembers.

Shell sounded more positive. "Productive discussion today.Shell and USW agreed to resume talks on Wednesday," companyspokesman Ray Fisher said.

The company has declined to detail the nature of thenegotiations.

Since bargaining first started on Jan. 21, the union hasrejected five offers from Shell.

The union is seeking annual pay increases of 6 percent,double the size of those in the last agreement. It also wantswork that has been given in the past to non-union contractors tostart going to USW members, a tighter policy to preventworkplace fatigue and reductions in members' out-of-pocketpayments for healthcare.

The strikes were the first ordered in 35 years in support ofa nationwide pact that would cover 30,000 workers.

Refiners are promising little or no disruption toproduction, but wholesalers and others have snapped up supplies.

Traders have said the strike contributed to higher pricesfor gasoline futures on Tuesday, though they were down afew cents early on Wednesday at $1.56 a gallon.

Refinery outages can reduce purchases of crude, and U.S. oilprices were down 3 percent at $51.48 after a string ofbig gains. (Additional reporting by Jessica Resnick-Ault; Writing by TerryWade, editing by William Hardy)

More News
7 Jan 2022 08:17

LONDON BRIEFING: Shell warns on cash outflows but continues buybacks

LONDON BRIEFING: Shell warns on cash outflows but continues buybacks

Read more
7 Jan 2022 07:57

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

Read more
7 Jan 2022 07:49

Shell to proceed with share buyback 'at pace' despite weaker oil performance

(Sharecast News) - Royal Dutch Shell said its $7bn share buyback programme would continue "at pace" despite weaker oil product sales due to the Omicron Covid variant and forex headwinds in Turkey.

Read more
7 Jan 2022 07:27

UPDATE 3-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds share price)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue "at pace" a $7 billion share buyback largely funded from t...

Read more
7 Jan 2022 07:27

UPDATE 1-Shell to continue $7 bln buyback programme 'at pace'

(Adds detail)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COV...

Read more
7 Jan 2022 07:27

UPDATE 2-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds details, graphics)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling ...

Read more
7 Jan 2022 07:10

Shell to continue $7 bln buyback programme 'at pace'

LONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COVID-19 variant.(Reporting b...

Read more
6 Jan 2022 23:48

U.S. court rejects laundromat owners' bid to block sale of Texas oil refinery to Mexico's Pemex

By Stefanie EschenbacherHOUSTON/MEXICO CITY, Jan 6 (Reuters) - A U.S. court on Thursday tossed out a request from two laundromat owners to block Mexican state oil company Petroleos Mexicanos (Pemex) from acquiring majority control of a Texas oil r...

Read more
6 Jan 2022 12:16

UPDATE 2-Key Kazakh oil fields pump despite protests

(Updates with Shell, details, background)By Ron Bousso and Rowena EdwardsLONDON, Jan 6 (Reuters) - Oil production at Kazakhstan's top three fields is continuing even as some contractors gathered outside the largest Tengiz field in support of protes...

Read more
6 Jan 2022 12:00

Shell-backed U.S. solar developer raises $775 million in equity

By Nichola GroomJan 6 (Reuters) - Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell, on Thursday said it raised $775 million in equity capital from new and existing investors.The announcement comes as renewable energ...

Read more
5 Jan 2022 09:54

UPDATE 2-Commodity-linked stocks lift UK's FTSE 100 after dull start

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Ocado, LSEG, Ferguson gain as brokerages raise share ratings* Gains in oil majors offset risk-off sentiment* FTSE 100 up 0.2%, FTSE 250 of...

Read more
4 Jan 2022 17:00

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

Read more
4 Jan 2022 12:04

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

Read more
3 Jan 2022 13:26

U.S. refiner HollyFrontier warns of lower than expected throughput

Jan 3 (Reuters) - U.S. oil refiner HollyFrontier Corp's fourth-quarter throughput will be lower than forecast, hit by weather and turnaround setbacks at refineries in Washington, New Mexico and Oklahoma, the company warned on Monday.Flooding in B...

Read more
31 Dec 2021 13:08

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.