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Oilfield service workers may strike in Norway

FROM NEWS AND WIRE REPORTS

Hundreds of oilfield service company workers, mostly with US companies, are threatening to go on strike unless they get improved wages and benefits, according to several European and American news agencies.

This past July, offshore workers in Norway went on a strike that lasted more than two weeks and  shut down about 13% of the country’s oil production, according to Reuters. That caused a price spike as supply decreased.

The workers currently threatening to strike include Norwegian employees from Houston-based Halliburton (NYSE: HAL), Schlumberger (NYSE: SLB), and Oceaneering International (NYSE: OII). In addition, workers from Swiss firm Weatherford International (NYSE: WFT) and Norway’s Subsea 7 are expected to join any potential strike.

In the event of a strike, exploration and construction would be affected, but production should not see a decline, said a spokesman for one of the unions representing workers. The strike is expected to begin before the end of September, if it occurs.

Norwegian oilfield service workers make an average $180,000 a year, according to Reuters.

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