Seeking Alpha

Norway's oil strike looks no closer to ending, with a government mediator saying workers and...

Norway's oil strike looks no closer to ending, with a government mediator saying workers and employers are still "far apart" in a dispute over pay and pensions. The industry association, which includes Exxon Mobil (XOM) and BP (BP), has threatened to halt all output from Tuesday. The tactic is probably designed to force the government to halt the strike, as it has done in the past. Update: Negotiations failed for a third time today.
Comments (8)
  • stocknerd
    , contributor
    Comments (1342) | Send Message
     
    Maybe time to put in a low ball bid for monday on STO, knowing the PPS will fall. This is a great company will great long tern prospects.
    8 Jul 2012, 05:49 AM Reply Like
  • bigbenorr
    , contributor
    Comments (837) | Send Message
     
    This is why you bring in Americans to drill the rest of the world.....
    8 Jul 2012, 10:24 AM Reply Like
  • deercreekvols
    , contributor
    Comments (6696) | Send Message
     
    The Norwegian workers are striking over pay and pensions, just as many, many American unions have over the years. Con Ed is going through this right now, why not bring in Norwegian electrical workers?

     

    Norway will work this out and STO will continue to be a solid company, in my opinion.

     

    Stolt av a vaere norsk. (proud to be Norwegian)
    8 Jul 2012, 09:36 PM Reply Like
  • bigbenorr
    , contributor
    Comments (837) | Send Message
     
    No oilfield unions in the USA....

     

    Agree with second paragraph.
    8 Jul 2012, 09:45 PM Reply Like
  • deercreekvols
    , contributor
    Comments (6696) | Send Message
     
    No oilfield unions? There is group that could organize and cause all sorts of issues with big oil profits.

     

    Thanks for clearing up my confusion on using American drillers.

     

    Still looking for an update on the STO story today.

     

    Stolt av a vaerre norsk.
    9 Jul 2012, 10:33 AM Reply Like
  • untrusting investor
    , contributor
    Comments (9973) | Send Message
     
    Put STO on the watch list. Might be a buy if price continues to decline.
    8 Jul 2012, 04:14 PM Reply Like
  • Veritas1010
    , contributor
    Comments (1658) | Send Message
     
    I'm watching closely too, but figure Norway's government will soon insist on mandatory arbitration. This has occurred several times before with Norway's present administration. Besides, the country stands to loose billions of NOK's in a matter of less than 7 days between taxes and revenues due to the governments ownership position.

     

    I don't see this strike lasting long, though it is unusual that the 2 unions out of several that have slowed downed via work outages are trying first to negotiate over pensions not wages. But if it does continue then b-u-y (accumulate) is the prescient word.

     

    dis.:long STO.
    8 Jul 2012, 05:46 PM Reply Like
  • Venerability
    , contributor
    Comments (3048) | Send Message
     
    There are three other major labor actions going on in Brent-associated regions, including Nigeria and Central Asia. And some serious problems in Saudi Arabia. And both a conference with its friends and more war games in Iran. And Russia talking tough on Oil. While Venezuelan Oil lease auctions have done very well, with even Europeans and Americans participating. Plus Latin America sides with Venezuela in the Mercosur brouhaha.

     

    Brent - and the Brent spread - is still the thorn in the side of the Dollah! Dollah! Dollah! DOGs.

     

    Especially with the Olympics in London only two weeks away - an impetus for calming Market waters.

     

    Uber-Bears may be controlling the Propaganda stream for a few more hours - but not much beyond that, IMO.

     

    Risk (Very) On will simply prove the easier path to take. (Plus, if the PM stocks don't get their normal Late Summer Rally after losing their normal Late Spring Rally to the lingering effects of the Indian merchants' strike, a whole lot of sector veterans and gurus will be extremely angry. And we are angry enough to begin with! Don't mess with us!)
    8 Jul 2012, 08:20 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs