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

UPDATE 1-Norwegian oil dispute set for mediation after wage talks break down

Wed, 04th Jun 2014 06:18

* Fourth round of wage talks to fail

* Strike two years ago firmed oil prices (Adds background)

OSLO, June 4 (Reuters) - Wage talks between oil companiesand the largest union representing land-based oil workers inNorway have broken down and are heading to state-appointedmediation, the Norwegian Oil and Gas Association said onWednesday.

The negotiations over pay and work conditions affect about5,000 employees working for Statoil, BP,ConocoPhillips and Shell, among others.

This is the fourth round of talks involving oil workers tohead for mediation. So far talks between the companies andplatform workers, oil services employees and those operatingonshore supply bases have failed to agree a deal.

"Industri Energi did not accept our last offer and chose towalk out of the talks while Safe, Parat and Negotia asked formore time," the Norwegian Oil and Gas Association said in astatement.

These talks will resume after local unions negotiate theirown deals, the Safe union said in a separate statement.

Two years ago about 10 percent of Norway's offshore workerswent on strike for 16 days, cutting oil output by 13 percent andgas by 4 percent.

The dispute ended when oil companies threatened a fulllock-out and the government stepped in to impose a deal. Thestrike then pushed oil prices above $100 a barrel.

The first mandatory mediation is scheduled for June 16-17and unions said that if talks fail they would shut down twoExxonMobil and one GDF Suez platform withcombined production of about 80,000 barrels of oil per day. (Reporting by Gwladys Fouche; Editing by David Goodman)

Related Shares

More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, par...

7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating th...

31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

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.