India's State-Run Oil Co Execs to Strike from Tuesday

NEW DELHI Aug 20, 2007 (Dow Jones)

Executives of state-run oil companies will go on an indefinite strike from Tuesday for higher wages among other things, officials of the executives' union said Monday. "We will meet the prime minister with our charter of demands," Ashok Singh, Convenor, Oil Sector Officers' Association, told reporters, without elaborating.

Over 45,000 officials of the state-owned companies - Oil and Natural Gas Co. (500312.BY), Bharat Petroleum Corp. (500547.BY), Hindustan Petroleum Corp. (500104.BY) and Indian Oil Corp. (530965.BY) - will be on an indefinite strike from Tuesday, he said.

The daily loss to the country due to the strike will be 14 billion rupees ($338.82 million) a day, he said.

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