Norway oil, gas production reduce because of strike of senio...| MENAFN.COM

Thursday, 18 August 2022 11:14 GMT

Norway oil, gas production reduce because of strike of senior workers


(MENAFN) Norway, a major supplier of hydrocarbons to Europe, is producing less oil and natural gas as a result of the senior offshore workers' strike, which started on Tuesday.

According to news agency, the Norwegian Organization of Managers and Executives (Lederne) union is requesting a pay raise to offset the rising cost of living. Production was reduced at three offshore fields on the first day of the closure, and two further phases of the protest are scheduled for Wednesday and Saturday.

The Norwegian Oil and Gas Association (NOG) estimates that after the second stage is implemented on Wednesday, natural gas output would be lowered by 13 percent and oil production by 6.5 percent. The percentages equal, respectively, 130,000 barrels of oil per day and 292,000 barrels of oil equivalent of gas.

According to news agency, regular production might be reduced by an additional 230,000 barrels of oil equivalent gas and 160,000 barrels of oil equivalent liquid hydrocarbons if the protests intensify.

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