Norway Oil Services Staff Wage Talks Halt; Oil Strike Looms

LONDON, May 29, 2006 (Dow Jones Commodities News via Comtex)

Negotiations over wages and work schedules between Norwegian oil service companies and their employees broke down Monday after both sides failed to reach an agreement, leading one of Norway's largest trade unions to threaten an oil strike.

"We have settled the wage negotiations with shippers and catering, but as usual the oil services" companies are refusing to agree, Sande Leif, President of the Norwegian Oil and Petrochemical Workers Union, or NOPEF, said Monday.

NOPEF is negotiating a two-year contract with the Norwegian Oil Industry Association, or OLF, over oil-service contracts that affect 2,650 workers who work for companies such as Schlumberger AG (SLBS.VI), Aker Kvaerner ASA (AKVER.OS), Halliburton Co (HAL) and Baker Hughes Inc (BHI) on the Norwegian continental shelf.

Copyright (c) 2006 Dow Jones & Company, Inc.

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