Kuwait Oil, Gas Workers End 3-day Strike

Source: Reuters 4/20/2016, Location: Middle East

Kuwaiti oil and gas workers have ended a three-day strike that had temporarily cut the OPEC member's crude production by nearly half, local newspaper Al Jarida reported late on Tuesday, citing the trade union.

News that the strike was over came just hours after Kuwait's oil minister had ruled out negotiations with the employees until they stopped their action, while one of the union leaders said the thousands of workers would hold out until planned public sector pay cuts were canceled.

U.S. oil prices CLc1 fell slightly after the news. Oil markets had rallied this week as the strike forced Kuwait Oil Company (KOC) to cut output to as little as 1.1 million barrels per day (bpd), down from a normal level of about 3 million bpd. By Tuesday output had recovered to around 1.5 million bpd.

Workers fear reduced salaries, benefits and staff layoffs will be part of a planned government overhaul of the payroll system in the public sector.

In an interview with Kuwaiti TV channel al-Rai, Kuwait's acting oil minister, Anas al-Saleh, said production would continue and that no talks would proceed during a strike.

"We cannot sit down at the negotiating table with the unions during a strike. We will achieve the impossible to continue to operate the oil sector despite the strike," Saleh said.

Unions had not said how long the walkout would last. Non-Kuwaiti oil workers are not on strike.


Australia >>  8/18/2022 - Vintage Energy Ltd (VEN, “Vintage”), 50% interest holder and Operator of the ATP 2021 Joint Venture (“JV”) (other interest holders: Metgasco Ltd, 25%;...
Egypt >>  8/18/2022 - SDX Energy Plc (SDX) is pleased to announce its unaudited financial and operating results for the three and six months ended 30 June 2022. All monetar...

Russia >>  8/16/2022 - According to preliminary data, Gazprom produced 274.8 billion cubic meters of gas from January 1 through August 15, 2022. This is a decrease of 13.2 p...
Brazil >>  8/15/2022 - Petro Rio S.A. Informs its shareholders and the market in general that it has interrupted production in the Frade Field due to an inert gas line. Th...

Tunisia >>  8/15/2022 - Serinus Energy plc (“Serinus”) (SEN), is pleased to announce its interim results for the six months ended 30 June 2022.

...

United Kingdom >>  8/15/2022 - The leading representative body for the UK offshore energy industry has today urged government to prioritise the domestic production of energy. It com...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.