Norway Oil Workers Threaten Strike Over Wage Demands
Norwegian offshore oil and gas workers are threatening to strike from June 5 if wage mediation fails, according to labour union data. The three unions involved, Styrke, Lederne, and Safe, have around 8,100 members, with 617 planning to participate in the initial wave of strikes.
The workers are seeking pay rises above inflation and other changes to their contracts, but have not disclosed details of their demands. The negotiations cover most workers on Norway's offshore oil and gas installations, and failure to come to an agreement can lead to production curtailment.
Norway produces over 4 million barrels of oil equivalent per day, with any reduction potentially impacting markets at a time when Middle East output is already curtailed by the Iran war. The country is Europe's largest supplier of natural gas, delivering about one-third of the continent's annual consumption.