Exxon’s Norway production threatened as union prepares to strike

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Norway's Safe oil workers union says it is ready to go on strike over pensions after an Oslo court rules that a strike notice is legal; such a strike would cut oil production from Exxon Mobil’s (XOM +0.4%) platforms in the North Sea by more than 60K bbl/day.

The union says it will decide on a public mediator’s proposal endorsed by employers by a June 27 deadline, but that it “is not good enough.”