The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen 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

UPDATE 3-Norway oil and gas output at risk from strike, Equinor says

Fri, 12th Feb 2021 21:49

* Workers at Mongstad terminal threaten strike from Tuesday

* Sverdrup, Troll and other fields risk shutdown

* Sverdrup is Western Europe's largest oilfield

* Troll is Norway's biggest gas field; also produces oil
(Adds comment by Lundin Energy)

By Terje Solsvik

OSLO, Feb 12 (Reuters) - A potential strike at Norway's
Mongstad oil storage and export terminal could close down major
North Sea oilfields next week and also hit gas exports to
Europe, operator Equinor said on Friday.

The Safe labour union, which plans to strike from Tuesday
onwards unless a wage deal is reached in the meantime, warned on
Thursday of potential output disruptions from the offshore Johan
Sverdrup and Troll fields.

"A potential strike could reduce crude storage and harbour
capacity at the terminal at Equinor Mongstad refinery, which
could affect the production at several Equinor operated fields
... including Johan Sverdrup and Troll," the company said in a
statement.

"It could be necessary to shut down production there until
further notice," Equinor said.

The Safe union in a statement on Thursday said it had sought
to shield Norway's gas exports from the strike at a time of high
demand in Europe.

But Equinor said the planned strike, if it goes ahead, would
likely have wider consequences.

"A possible strike could also impact gas exports from the
Troll area, and could also impact the Kvitebjoern, Visund,
Byrding, Fram and Valemon fields," the company said.

Johan Sverdrup is Western Europe's largest oilfield with
output of around 500,000 barrels of crude per day. Troll is the
region's largest gas field and also produces oil.

Crude from Troll, Sverdrup and other fields is piped to a
terminal at the Mongstad refinery, which has a capacity to store
more than 9 million barrels, from where it is eventually
exported to global markets.

Only a dozen workers are due to strike initially, but they
are involved in the loading of vessels and in handling arrivals
and departures of ships at Mongstad.

In case of a protracted conflict, a strike could spread to
other onshore facilities, with as many as 800 oil and gas
workers potentially involved, Safe has said.

Lundin Energy, a Sverdrup partner, in a separate
statement said it hoped the oil industry would be able to reach
a settlement with the union and thus avoid the shutdowns.

Other partners in Sverdrup are Aker BP and Total
. In Troll, ConocoPhillips and Shell
are among the license holders.
(Reporting by Terje Solsvik in Oslo
Editing by Diane Craft and Matthew Lewis)

More News
10 Dec 2021 12:17

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

LONDON MARKET MIDDAY: Stocks lower ahead of key US inflation report

Read more
10 Dec 2021 10:41

Shell shareholders vote for move to Britain -preliminary results

AMSTERDAM, Dec 10 (Reuters) - In a preliminary result, Royal Dutch Shell shareholders on Friday voted in favour of a plan to move the company's headquarters and its tax home to Britain.Chairman Andrew Mackenzie announced the preliminary results, ...

Read more
10 Dec 2021 10:17

Siccar Point CEO says Cambo oilfield project paused after Shell exit

LONDON, Dec 10 (Reuters) - Siccar Point CEO Jonathan Roger said on Friday that Royal Dutch Shell's decision last week not to progress the Cambo oilfield project in the British North Sea means the development will have to be paused.Siccar, which ow...

Read more
10 Dec 2021 10:08

UPDATE 1-Royal Dutch Shell shareholders expected to approve move to London

* If approved, Shell's move expected in early 2022* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Updates with colour from meeti...

Read more
10 Dec 2021 00:25

UPDATE 2-Royal Dutch Shell shareholders back plan to shift to London

* British tax base seen making buybacks, dividends easier* Dutch withholding tax a factor in Shell's decision* Shell says move will not affect its environmental policy (Recasts with shareholder vote)By Toby Sterling and Ron BoussoROTTERDAM/LONDON, D...

Read more
9 Dec 2021 13:37

S.Africa energy minister defends Shell's planned seismic blasting on Wild Coast

* S.Africans protest against oil search in pristine stretch* Area home to whales, penguins, dolphins, seals* Objectors want Africa to stay poor, Gwede Mantashe saysBy Tim CocksJOHANNESBURG, Dec 9 (Reuters) - South Africa's energy minister defended o...

Read more
9 Dec 2021 10:10

UPDATE 2-European shares fall again on Omicron worries

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Deutsche Bank skids after DoJ violation report* Defensive sectors cap losses* Investors eye U.S. CPI data due Friday (Updates to close)By ...

Read more
6 Dec 2021 16:58

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

LONDON MARKET CLOSE: Airlines lift off as Omicron fears ease

Read more
6 Dec 2021 12:16

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

LONDON MARKET MIDDAY: Stocks rise as Fauci helps soothe Omicron fear

Read more
6 Dec 2021 12:13

UPDATE 4-BP says Brent benchmark reform should include U.S. oil, dump Brent

(Adds background)By Julia PayneLONDON, Dec 6 (Reuters) - BP supports the addition of U.S. oil crude grade WTI Midland to global dated Brent, suggesting the removal in the medium-term of Brent and Forties grades from the benchmark as flows have eva...

Read more
5 Dec 2021 13:57

S.Africans protest against Shell oil exploration in pristine coastal area

By Siyabonga SishiPORT EDWARD, South Africa, Dec 5 (Reuters) - South Africans took to their beaches on Sunday to protest against plans by Royal Dutch Shell to do seimsic oil exploration they say will threaten marine wildlife such as whales, dolphi...

Read more
3 Dec 2021 16:05

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
3 Dec 2021 14:31

Nigeria's Bonga oil export terminal in maintenance until next week - Shell

LONDON, Dec 3 (Reuters) - Nigeria's Bonga crude oil export terminal is undergoing planned maintenance until next week, operator Shell said on Friday.Bonga is typically one of the larger export streams from Africa's largest oil producer. It was sch...

Read more
3 Dec 2021 12:06

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

LONDON MARKET MIDDAY: Jitters turn from Omicron to US nonfarm payrolls

Read more
3 Dec 2021 10:19

Shell wins court case to start seismic surveys offshore South Africa

CAPE TOWN, Dec 3 (Reuters) - A South African high court on Friday struck down an urgent application brought by environmentalists to stop oil major Royal Dutch Shell starting seismic surveys to explore for petroleum systems off the eastern seaboar...

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.