FINWIRES · TerminalLIVE
FINWIRES

Update: Trade Union Lederne Confirms Strike Possibility at Norway Oil, Gas Offshore Facilities

By

(Updates with Offshore Norway statement in fourth and fifth paragraphs.)

Trade union firm Lederne confirmed there was a possibility of strikes at Norwegian offshore oil and gas producing installations, with much depending on the outcome of the mediations starting on Wednesday.

"There is a chance of a strike on Norwegian offshore installations producing oils and gas, depending on the mediations starting today with deadline Thursday at midnight," a spokesperson for the trade union said in an emailed statement to.

The Norwegian Continental Shelf facilities which are likely to be impacted by the strikes first include the Statfjord A platform and the Oseberg Ost field, both operated by Equinor (EQNR), Draugen operated by Okea, and Ekofisk 2/4 K operated by ConocoPhillips' (COP) Norwegian unit, the statement said.

In a statement shared with, Offshore Norway, which is representing the oil industry in these negotiations, said almost 45,500 barrels of oil equivalent per day in production could be impacted by the strike.

"A strike could result in reduced production from the affected fields. Based on the notified strike volumes, approximately 45,500 barrels of oil equivalent per day could be impacted," it said in its statement.

Earlier this week, Reuters reported that almost 8% of offshore oil and gas workers in Norway intend to launch a strike if negotiations over wages, mediated by the state, do not yield any results.

Three workers unions Styrke, Lederne and Safe, representing about 8,100 members involved in oil production, are involved in negotiations with Norwegian oil companies. Among other demands, workers are seeking a pay hike above inflation, the report said.

The three unions represent most of the workers in Norway's offshore oil and gas facilities, it added.

Related Articles

Commodities

BHP, Maritime Industry Group Partner on Biofuel Blending Pilot

Australian miner BHP on Wednesday said it is collaborating with the Global Centre for Maritime Decarbonisation on a pilot to examine how biofuels from several feedstocks can be blended and used in real-world operating conditions through the use of existing used cooking oil bunkering infrastructure.As part of the project, biofuels from two different feedstocks, used cooking oil and waste animal fat, were blended and introduced into the bulk carrier Berge Lyngor, chartered by BHP.The pilot is expected to help identify solutions to challenges pertaining to fuel quality, handling, traceability, and onboard vessel performance, the BHP statement said."The outcomes of the pilot are expected to shed light on the practical steps to integrate biofuel blends from different feedstocks into existing supply chains. The diversity of biofuels will provide shipowners and operators with greater flexibility to optimise fuel procurement based on cost, availability, and lifecycle emissions performance," the statement said.Berge Lyngor, owned and operated by Berge Bulk, has been chartered by BHP to transport iron ore from Western Australia to China. The carrier has the potential to cut down well-to-wake greenhouse gas emissions by almost 79% per voyage when run on bio-blend, when compared to its voyages using very low sulphur fuel oil, the statement said.In early May, the vessel refueled in Singapore with a B100 bio-blend consisting of tallow-derived biodiesel, provided by HAMR Energy, and used cooking oil, supplied by Mitsui & Co Energy Trading Singapore, in equal quantities. Mitsui was also part of the blending processThe Maritime and Port Authority of Singapore is co-funding the project through the Maritime Innovation and Technology Fund, the statement added.

Commodities

EMEA Natural Gas Update: Futures Rise as Renewed Middle East Tensions Cast Doubt on Peace Deal

European natural gas futures were rallying on Wednesday as tensions continued to intensify in the Middle East, casting a cloud on peace negotiations between the US and Iran.The Dutch TTF front-month contract rose 3.91% to 49.470 euros ($57.45) per megawatt-hour, while the UK NBP front-month contract rose 4.05% to 119.440 British pence ($1.61) per therm.On Wednesday, US Centcom said on X that it had defeated "multiple Iranian ballistic missiles and drones," aimed at regional neighbors. The US also conducted another round of self-defense strikes against Iran's Qeshm Island in retaliation to Iran reportedly firing missiles at Kuwait and Bahrain.Meanwhile, the strategically crucial Strait of Hormuz remained effectively shut for the 14th week running, with just 4 vessels transiting over the past 24 hours, according to the Hormuz Strait Monitor.According to Daniel Hynes, a senior commodity strategist at ANZ, this is set to put additional pressure on European buyers, as they "struggle to refill storage facilities," as Asian imports continued to rise since April.Hynes also warned that the region's supply constraints could worsen with Australian workers at the Ichthys LNG facility commencing strikes after talks stalled between the union and the company.European gas inventories remained depleted at just 40.76% of capacity, compared to 48.88% during the corresponding period a year ago, according to data from Gas Infrastructure Europe.Inventories were also significantly below the five-year average for this period, at 54.7%, according to the Swiss Federal Office of Energy.

Commodities

Trade Union Lederne Confirms Strike Possibility at Norway Oil, Gas Offshore Facilities

Trade union firm Lederne confirmed there was a possibility of strikes at Norwegian offshore oil and gas producing installations, with much depending on the outcome of the mediations starting on Wednesday."There is a chance of a strike on Norwegian offshore installations producing oils and gas, depending on the mediations starting today with deadline Thursday at midnight," a spokesperson for the trade union said in an emailed statement to.The Norwegian Continental Shelf facilities which are likely to be impacted by the strikes first include the Statfjord A platform and the Oseberg Ost field, both operated by Equinor (EQNR), Draugen operated by Okea, and Ekofisk 2/4 K operated by ConocoPhillips' (COP) Norwegian unit, the statement said.Earlier this week, Reuters reported that almost 8% of offshore oil and gas workers in Norway intend to launch a strike if negotiations over wages, mediated by the state, do not yield any results.Three workers unions Styrke, Lederne and Safe, representing about 8,100 members involved in oil production, are involved in negotiations with Norwegian oil companies. Among other demands, workers are seeking a pay hike above inflation, the report said.The three unions represent most of the workers in Norway's offshore oil and gas facilities, it added.has reached out to Offshore Norway, which is representing the oil industry in these negotiations, for a comment.

$COP$EQNR