Norway energy industry in wage bargain, averting oil, gas outages

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Norway's oil industry employers struck a wage bargain with the Safe labour union on Tuesday, preventing a strike at the Mongstad crude terminal and shutdowns of major offshore oil and gas fields, Safe told Reuters.

FILE PHOTO: A general view of the Equinor's Johan Sverdrup oilfield platforms in the North Sea, Norway December 3, 2019. REUTERS/Ints Kalnins/File Photo

The Norwegian Oil and Gas Association, which negotiated on behalf of energy firms, confirmed the agreement. Norway, western Europe’s largest oil and gas producer, pumps about 2.1 million barrels per day of crude, while gas production amounts to 2 million barrels of oil equivalent per day . The fields produced 680,000 bpd of crude and had a gas output corresponding to about 850,000 boed in November, according to data from the Norwegian Petroleum Directorate .

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It looks impressive and promising.

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