Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone 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

U.S. refinery strike enters 12th day, no talks scheduled

Thu, 12th Feb 2015 17:36

HOUSTON, Feb 12 (Reuters) - The largest U.S. refinery strikesince 1980 entered its 12th day on Thursday with no talksscheduled between union and industry representatives until nextweek, and at least one refinery will remain out of productionfor the duration of the work stoppage.

Tesoro Corp Chief Financial Officer Steven Sterintold analysts during an earnings conference call on Thursdaythat production at the company's 166,000-barrel-per-day (bpd)refinery in Martinez, California, will remain shut down untilthe strike ends.

Two of Tesoro's California refineries and another inWashington are among nine refineries where workers are onstrike, affecting 13 percent of U.S. capacity. A chemical plantand power co-generation plant have also seen walkouts.

Tesoro is operating the Martinez refinery near San Franciscoas a terminal.

Tesoro Chief Executive Greg Goff said during the call thatit was too early to discuss hiring permanent replacements forthe striking workers.

No talks are scheduled between the United Steelworkers union(USW), which represents the striking workers, and Shell Oil Co,the U.S. unit of Royal Dutch Shell Plc that is the leadoil company negotiator.

Shell has said it needs time to fulfill an extensiveinformation request from the union.

"The lines of communication between the USW and Shell remainopen," Shell spokesman Ray Fisher said.

A union representative did not immediately reply to arequest for comment.

Since the talks started on Jan. 21, sticking points haveincluded the use of non-union contractors and how to monitorworker fatigue. Wage increases and health benefits are also onthe bargaining table.

The USW is seeking a three-year, industry-wide pact thatwould cover 30,000 workers at 63 U.S. refineries that togetheraccount for two-thirds of domestic capacity.

Over the weekend, walkouts widened to include BP Plc's Whiting, Indiana, refinery and its joint-venture refinerywith Husky Energy in Toledo, Ohio.

Companies have called on trained temporary replacementworkers to keep their plants running at nearly normal levels.

Refineries where the strikes are taking place have reportedmalfunctions since walkouts began on Feb. 1.

A 70,000-bpd gasoline-producing fluid catalytic crackingunit was shut earlier this week at Shell's 327,000-bpd refineryin the Houston suburb of Deer Park, Texas. (Reporting by Erwin Seba; Editing by Paul Simao)

More News
28 Oct 2021 12:24

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

LONDON MARKET MIDDAY: Stocks edge lower as ECB rate decision looms

Read more
28 Oct 2021 11:21

TOP NEWS SUMMARY: Shell earnings miss target but promises returns

TOP NEWS SUMMARY: Shell earnings miss target but promises returns

Read more
28 Oct 2021 11:00

U.S. Congress puts Big Oil in the hot seat in climate deception probe

WASHINGTON, Oct 28 (Reuters) - The U.S. Congress on Thursday will open a year's worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers planning to grill the chiefs of four oil c...

Read more
28 Oct 2021 10:12

UPDATE 2-Oil majors drag down FTSE 100 after Shell misses earnings

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Shell declines after weak Q3 results* Lloyds up on strong Q3 performance* FTSE 100 down 0.1%, FTSE 250 off 0.1% (Updates to close)By Bansa...

Read more
28 Oct 2021 10:02

Shell break-up would not work in real life, says CFO

LONDON, Oct 28 (Reuters) - Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday.Activist hedge fund ...

Read more
28 Oct 2021 10:02

Shell break-up would not work in real life, says CFO

LONDON, Oct 28 (Reuters) - Breaking up oil major Royal Dutch Shell into separate fossil fuels and renewables companies might be financially compelling but would not work in real life, finance chief Jessica Uhl said on Thursday.Activist hedge fund ...

Read more
28 Oct 2021 09:52

UPDATE 3-European shares inch higher on strong earnings, ECB maintains status quo

* ECB keeps stimulus going, sees inflation as temporary* Volkswagen drags auto index lower* Food and beverage, tech stocks offer silver lining (Updates to market close)By Anisha Sircar and Ambar WarrickOct 28 (Reuters) - European stocks closed sligh...

Read more
28 Oct 2021 09:52

UPDATE 2-European shares flat as ECB maintains status quo

* ECB keeps stimulus going, sees inflation as temporary* Volkswagen drags auto index lower* Food and beverage, tech stocks offer silver lining (Updates with ECB, German inflation)By Anisha Sircar and Ambar WarrickOct 28 (Reuters) - European stocks s...

Read more
28 Oct 2021 09:00

LONDON MARKET OPEN: Shell drops as earnings fall short of forecasts

LONDON MARKET OPEN: Shell drops as earnings fall short of forecasts

Read more
28 Oct 2021 08:21

LONDON BRIEFING: Shell, under pressure to break up, promises returns

LONDON BRIEFING: Shell, under pressure to break up, promises returns

Read more
28 Oct 2021 07:57

LONDON MARKET PRE-OPEN: Shell shareholders set for generous returns

LONDON MARKET PRE-OPEN: Shell shareholders set for generous returns

Read more
28 Oct 2021 07:38

UPDATE 3-Repsol raises dividend and outlook as oil and gas boost profit

(Adds second analyst comment)By Isla Binnie and Joao Manuel Vicente MauricioMADRID, Oct 28 (Reuters) - Spanish energy company Repsol on Thursday said it would raise its dividend and buy back shares after strong oil and gas prices helped to lift th...

Read more
28 Oct 2021 07:38

UPDATE 2-Repsol raises dividend and outlook as oil and gas boost profit

(Adds outlook, share move, analyst comment)By Isla BinnieMADRID, Oct 28 (Reuters) - Spanish energy company Repsol on Thursday said it would raise its dividend and buy back shares after strong oil and gas prices helped to lift third-quarter profit ...

Read more
28 Oct 2021 07:38

UPDATE 1-Oil and gas group Repsol to raise dividend as profit recovers

(Adds detail, background)By Isla BinnieMADRID, Oct 28 (Reuters) - Spanish energy company Repsol on Thursday said it would raise its dividend and buy back shares after strong oil and gas prices helped to lift third-quarter profit above pre-pandemic...

Read more
28 Oct 2021 07:22

UPDATE 8-Shell says break-up of group would not work in real life

* Activist shareholder Loeb called for break-up of Shell* Investors question whether split would work* New climate target is absolute, not intensity-based (Adds quote, updates share price)By Shadia NasrallaLONDON, Oct 28 (Reuters) - Royal Dutch Shel...

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.