Norwegian oil union officials meet to negotiate strike

Oil

Norwegian oil firms are currently meeting with union officials, as well as a state-appointed mediator, to discuss a new set of proposals which would bring the 10-day strike to an end, Reuters report.  Six offshore oil and gas fields have been shut since October 5, reducing the output from Europe’s largest oil and gas producer by 330K boe/d (or 8%), according to the Norwegian Oil and Gas Association (NOG), which is leading negotiations on behalf of the oil firms. If no deal is struck, a further seven offshore fields are also set to stop operations in the next few days, with the total output outage set to grow to around 966K boe/d by October 14.