An ongoing strike by Norwegian oil workers could cut almost a quarter of the country’s petroleum production by Oct. 14, which could further increase prices on the international oil market.
The collapse of wage talks between the Lederne union and the oil companies triggered a shutdown of six offshore oil and gas fields beginning Oct. 5 that cut capacity by 8 percent, or around 330,000 barrels of oil equivalent per day (boepd).
The union is demanding that the pay and working conditions of offshore workers be the same as those at onshore remote control rooms as well as a higher wage increase than that proposed by oil firms.
US oil major ConocoPhillips announced plans to shut down its Ekofisk 2/4 B platform, which has an output of 7,000 boepd, on Oct. 10.
Another six oil and gas fields could close or reduce operations by Oct. 14, including the Ekofisk platform.
The biggest outage would be at North Sea’s largest oilfield, Equinor’s Johan Sverdrup, which has an output of up to 470,000 boepd.
A total 941,000 boepd are expected to go offline.
Around 60 percent of the production cuts were natural gas, with crude oil and natural gas liquids comprising the rest.


Publishers Seek to Join Lawsuit Against Google Over Alleged AI Copyright Infringement
China Halts Shipments of Nvidia H200 AI Chips, Forcing Suppliers to Pause Production
One Percent Rule Checklist For Safer Forex Trading Risk
BYD Shares Rise in Hong Kong on Reports of Battery Supply Talks With Ford
Proposed Rio Tinto–Glencore Merger Faces China Regulatory Hurdles and Asset Sale Pressure
Syrah Resources and Tesla Extend Deadline on Graphite Supply Dispute to March
Micron to Buy Powerchip Fab for $1.8 Billion, Shares Surge Nearly 10%
China’s AI Models Narrow the Gap With the West, Says Google DeepMind CEO
Walmart International CEO Kathryn McLay to Step Down After Two and a Half Years
White House Pressures PJM to Act as Data Center Energy Demand Threatens Grid Reliability
Microsoft Strikes Landmark Soil Carbon Credit Deal With Indigo Carbon to Boost Carbon-Negative Goal
China Considers New Rules to Limit Purchases of Foreign AI Chips Amid Growing Demand
Elon Musk Seeks $134 Billion in Lawsuit Against OpenAI and Microsoft Over Alleged Wrongful Gains
U.S. Transportation Board Sends Union Pacific–Norfolk Southern Merger Back for Revision
Boeing Reaches Tentative Labor Deal With SPEEA Workers After Spirit AeroSystems Acquisition
Jamie Dimon Signals Possible Five More Years as JPMorgan CEO Amid Ongoing Succession Speculation
U.S. Moves to Expand Chevron License and Control Venezuelan Oil Sales 



