Norway’s Oil Supplier Reputation Unharmed by Strike, IEA Says

From Bloomberg

By Mikael Holter

Norway did well to step in an end an oil strike last year as the country needs to ensure it doesn’t damage its reputation as a reliable oil supplier, the head of the International Energy Agency said.

“It was solved, and it was very important that the reliability was not brought into question,” Maria van der Hoeven, the energy adviser’s executive director, said today in an interview in Oslo. “To have reliable risk management is also part of the trust and confidence put in you.”

A strike over pay and pensions at the end of June and beginning of July was ended by the government through forced arbitration as a total shutdown loomed. The strike disrupted 15 percent of oil production and 7 percent of gas output, according to Norway’s Oil Industry Association.

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