A strike by oil and gas workers in Norway has been halted after the country’s government intervened. The strike was causing concerns that it could worsen the current energy crisis in Europe, exacerbated by the war in Ukraine.
On Tuesday 5th July, the Norwegian government stepped in to force a settlement between energy executives and the offshore oil and gas workers that have been on strike. The settlement is one step toward reducing the fear that the country’s gas output with being significantly reduced.
Speaking to Reuters, Audun Ingvartsen, the leader of the Lederne trade union, explained, “Workers are going back to work as soon as possible.”
Oil and gas workers originally went on strike to demand a raise in wages to correspond with rising inflation in the country.
If the strike were to have continued, a loss of 130,000 oil barrels per day and a loss of gas exports of 292,000 barrels of oil equivalent a day would occur, states The Norwegian Oil and Gas Association.