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Oil Firms Lose $119m in Norway Strike As the Nigerian oil sector prepared at the weekend to join a nationwide mass protest against fuel price increase, it has been revealed that so far an oil workers' strike in Norway has cost oil companies, rig owners and oil supply companies, around $119 million, the Norwegian Shipowners association said. North Sea physical prices have been high this month, as demand for the light, sweet varieties of crude, which are easy to refine, has been healthy. While current production will be cut by a total of 55,000 b/d at the Glitne and Varg fields, the strike will also delay development drilling at Ekofisk, Oseberg, Troll, Valhall and Statfjord fields, preventing planned production of a further 150,000 b/d. "Based on the price of oil over the relevant period and the loss of future income, the real loss will be equivalent to approximately half the value of the lost oil production," the shipowners said. The union says they are striking over job security, with rig owners hiring contract workers outside the country. "The rigs are filled with foreign contractors at the same time there are several hundred jobless ex-Norwegian workers," said Bjoern Tjessem, deputy leader of the Federation of Oil Workers' Union Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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