Norway Oil Workers Strike Curbs Output
Friday June 18, 9:36 am ET By Alister Doyle
(hey, 11-0 wasn't too bad last night !)
OSLO (Reuters) - Norwegian oil workers began a wage strike on Friday that will slice more than 10 percent off output from the world's third biggest exporter, stoking already high world oil prices. The government said it had no plans to invoke emergency powers to halt the stoppage by about 200 workers, called after talks with employers collapsed and affecting almost 400,000 barrels per day (bpd) of Norway's three million bpd output. In London, Brent crude oil prices were up 24 cents at $36.45 a barrel, with the stroppage adding to worries about supplies after sabotage of key Iraqi pipelines halted Iraqi crude exports this week. Norway's oil and gas group Statoil (Oslo:STL.OL - News) said it had started closing the 240,000 bpd Snorre oilfield and the linked 75,000 bpd Vigdis field, the main platforms targeted by the strike.