2023-03-20 12:25:44 ET
Production of oil and natural gas off the U.K. coast could be at risk in the coming weeks after ~1,400 U.K. North Sea oil and gas workers voted to strike in a series of separate disputes over pay and working conditions.
The "tsunami of industrial unrest" will affect dozens of platforms operated by companies including BP ( NYSE: BP ), Shell ( NYSE: SHEL ) and TotalEnergies ( NYSE: TTE ), the Unite trade union said Monday.
The 1,400 workers are employed by five service firms, including Wood Group ( OTCPK:WDGJF ) ( OTCPK:WDGJY ) and Bilfinger ( OTCPK:BFLBF ).
Unite said it expects several platforms and offshore installations likely will need to shut because of the specialized roles of the striking workers.
Shell ( SHEL ) has a new CEO who seems shareholder-friendly and willing to take tough steps to close the valuation gap, Bram de Haas writes in an analysis published recently on Seeking Alpha .
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U.K. oil and gas production threatened as rig workers vote to strike