Statoil ASA (NYSE: STO) will initially keep oil fields operating even if negotiations set for June 30 to July 1 fail to avert a strike that would halt output at others, the Norwegian Oil and Gas Association (NOG) said on June 29.
Workers at five fields operated by ExxonMobil Corp. (NYSE: XOM) Engie and BASF unit Wintershall could walk off the job from July 2 if wage talks fail.
That would cut Norway's output of oil, natural gas and NGL by about 7%, data from the Norwegian Petroleum Directorate shows.
Trade unions said on June 27 that 755 workers could walk out, potentially affecting work on seven fields that account for about 17% of Norway's crude oil and natural gas output.
NOG on June 29 said eight fields in total would be affected, but output would only be affected at five of them. It cautioned that the three Statoil fields could be forced to also halt output if any strike that occurs is expanded.
A final round of mandatory talks will be hosted by a state mediator on June 30 and July 1.
Recommended Reading
PHX Minerals’ Borrowing Base Reaffirmed
2024-04-19 - PHX Minerals said the company’s credit facility was extended through Sept. 1, 2028.
SLB’s ChampionX Acquisition Key to Production Recovery Market
2024-04-19 - During a quarterly earnings call, SLB CEO Olivier Le Peuch highlighted the production recovery market as a key part of the company’s growth strategy.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.