Norwegian oil and gas giant Equinor ASA will shut down the Johan Sverdrup field if the workers strike continues until October 14, according to press release.  The continuation of strike to could impact scheduled personnel rotation, create insufficient capacity, and increase incompetence in key functions.

  • Equinor ASA hopes the intervening period will settle differences between the company and the union. 
  • Johan Sverdrup field was producing 430,000 barrels of oil equivalent a day in March, and there are plans to increase to 470,000.
  • Another strike beginning October 10thmidnight for further 93 workers could occur if talk’s settlement is not reached.
  • Wage discussions between the Norwegian Oil and Gas Association and Lederne trade union broke down last week, triggering a strike for 54 workers.  
  • The already shut down six fields were producing 330,000 barrels of oil equivalent a day.

Oil futures and stocks gaining on strike’s potential production cut. CL1! is up 1.85%, USO is up on premarket 1.44%