Thursday, August 16, 2012

Oil riggers strike in Norway

About 700 Norwegian oil workers went on strike after two days of talks broke down on the issue of retirement age.

The average employment age for oil workers is 65, according to the Norwegian Oil Industry Association.

Norway was the world's seventh biggest oil exporter in 2010 and the world's second largest natural-gas exporter in 2009, according to Statistics Norway. Disruptions in production here could lead to higher oil prices.

Statoil-operated Oseberg oil and gas field produced about 6.4 million barrels of oil equivalent in March, according to the latest update from the Directorate, or about 206,000 barrels per day on average. About a third of this was oil and the rest was natural gas and gas liquids. Heidrun produced 1.9 million barrels of oil equivalent in March, or about 62,000 barrels per day on average, of which 80% was oil and the rest was gas.