Talks between oil companies, U.S. union intensify as deadline nears
Reuters
Published Jan 24, 2022 10:50PM ET
HOUSTON (Reuters) - Talks for a new national contract for U.S. refinery and chemical plant workers intensified on Monday between the United Steelworkers Union (USW) and oil companies, the union told members in a message seen by Reuters.
Talks for the new pact began on Jan. 13 between the USW and lead company negotiator Marathon Petroleum (NYSE:MPC), the union has said, ahead of the Feb. 1 expiry of an existing three-year agreement covering 30,000 workers across the United States.
In addition to the contract talks, which will set pay and benefits, USW locals are meeting refinery and plant managers to agree on local issues.
Monday’s message said BP (NYSE:BP) Plc, chemical maker Ineos, Chevron Corp (NYSE:CVX) and Citgo Petroleum Corp were making "tough, concessionary demands" in local negotiations.
Last week, the Steelworkers said BP had made a proposal in talks at local unions for a no-strike period of up to 120 days following expiry of contracts..
A Chevron spokesperson did not have an immediate comment on Monday night, while spokespersons for BP, Ineos and Citgo did not immediately reply to requests for comment.
Sources familiar with local talks at Chevron’s refinery in Pasadena, Texas, said the company had asked for significant changes.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.