Unions representing 8,000 Norwegian offshore workers called off their planned strike. The work stoppage was scheduled to begin on June 5. Equinor and other producers reached a new wage agreement following government-led mediation.
The deal prevents a shutdown that threatened to cut Norway’s daily output by over 45,000 barrels of oil equivalent. This resolution removes operational uncertainty for Equinor and its key oil fields. Prior to the agreement, the impending strike remained a primary concern for investors.
The agreement provides a general annual pay increase of NOK 42,000. This raise equals approximately $4,509 per worker. The terms also include increased supplements for shift and night work.