Chevron: Strike at Angola Cabinda Oil Fields Ends

LONDON, Jul 11, 2005 (Dow Jones Commodities News via Comtex)

U.S. oil major Chevron Corp. (CVX) said Monday a strike over pay in its Angolan Cabinda oil fields ended Sunday and production was being restored.

"As of yesterday morning (Sunday), all employees have returned to work and all fields are returning to full production," said Chevron spokesman Andy Norman.

Some production at Chevron's Block 0 and Block 2 concessions in Cabinda had been affected by the strike that began Thursday.

Crude oil loadings aren't expected to be affected by the strike as there is sufficient oil in storage, Norman said.

He was unable to say how much production had been lost due to the strike.

Chevron's Angola subsidiary, Cabinda Gulf Oil Company Ltd, is operator of the Block 0 and the Block 2 concession.

Angola produces around 1.2 million barrels a day. Copyright (c) 2005 Dow Jones & Company, Inc.